With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?

Related Mcqs:

In a tariff and import quota lead to equivalent increase in the domestic price of steel, then ?

A. The quota results in efficiency reductions but the tariff does not B. The tariff results in efficiency reductions but the quota does not C. They have identical impact on how much is produced and consumed D. They have identical impact on how income is distributed...

Antidumping duties are used to ?

A. offset the margin of dumping B. punish domestic consumers for buying high-priced imported goods C. discourage foreign governments from subsidizing their exporters D. reduce the tariff revenue of the domestic government...

By practicing price discrimination, the firm would realize profits totaling ?

A. $160,000 B. $420,000 C. $540,000 D. $660,000...

The reason for dumping is that the demand curve for ABC Co’s computers is _______ because ________ are available from other nations?

A. more elastic in Japan, more substitutes are available from other nations B. more elastic in Japan, fewer substitutes are available from other; nations C. more inelastic in Japan; more substitutes are available from other; nations D. more inelastic in Japan; fewer substitutes are available from other nations...

A attempts to limit outsourcing of jobs to foreigners by requiring that a minimum percentage of a product’s value must be produced domestically if that good is to be sold in the domestic market ?

A. domestic subsidy B. voluntary restraint agreement C. domestic content requirement D. tariff-rate quota...