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WGU C211 Global Economics Questions and Correct Answers & Latest Updated £8.23   Add to cart

Exam (elaborations)

WGU C211 Global Economics Questions and Correct Answers & Latest Updated

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  • Module
  • WGU C211
  • Institution
  • WGU C211

Suppose that the United States imposes a tariff on avocados imported from Mexico. What impact will this have on the price paid for avocados by United States citizens? o :## The price will increase. Which of the following is a consequence of a country imposing a tariff on imported goods? o :#...

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  • August 25, 2024
  • 14
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • WGU C211
  • WGU C211
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1|Page: 2024/2025 Grade A+




WGU C211 Global Economics Questions and
Correct Answers & Latest Updated
Suppose that the United States imposes a

tariff on avocados imported from Mexico.

What impact will this have on the price paid

for avocados by United States citizens?


o :## The price will increase.



Which of the following is a consequence of a

country imposing a tariff on imported goods?


o :## The demand for foreign produced goods
decreases.




Suppose that the United States imposes a

tariff on salt. What impact might this tariff

have on the price for domestic consumers?


o :## Consumers will pay a higher price.



Applying a tariff to coconuts will have the

following effect:


o :## Increase the domestic price of
coconuts.


Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

, 2|Page: 2024/2025 Grade A+




Which of the following is NOT a restriction to

trade?


o :## Free trade areas.



What is the significant difference between an

import quota and a tariff?


o :## A tariff raises revenue for the
government and an import quota creates surplus for

those who obtain licenses to import.




Suppose that the price of a good increases (all

else held constant). Which of the following

would happen along with the change in price?


o :## Consumer surplus would decrease.



Suppose that Bob goes to the market and is

willing to pay $500 for a new chainsaw. Bob is

able to find the chainsaw for only $400. Which

of the following follows from Bob's

circumstance?




Master01: DO NOT COPY AND PASTE!! August 25, 2024 Latest Update

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