3rd quiz

Refer to Figure, At the world price of 30 cents per apple, the United States imports ________ million apples per day.

• 2

• 4

• 6

• 10

Refer to Figure, If a 10-cent-per-apple tax is levied on imported apples, the United States will

• import 2 million apples per day

• import 4 million apples per day

• import 6 million apples per day

• import 8 million apples per day

Refer to Figure, If the United States levies no taxes on apples, the price of apples in the United States would fall to ________, and the United States would import ________.

• 20 cents per apple; 10 million apples per day

• 30 cents per apple; 6 million apples per day

• 40 cents per apple; 2 million apples per day

• The price of apples in the United States after the U.S. government eliminated all taxes on imported apples cannot be determined from this information.

Assume that initially there is free trade. If the United States then imposes a 10-cent tax per apple,

• the quantity of apples demanded will be reduced by 4 million apples per day.

• the quantity of apples supplied by U.S. firms will increase by 6 million apples per day.

• the price of apples in the United States will increase to 40 cents per apple.

• U.S. imports of apples will increase by 6 million per day.

Refer to Figure, Assume that initially there is free trade. If the United States then imposes a 10-cent tax per apple,

• the quantity of apples demanded will be reduced by 2 million apples per day

• the quantity of apples supplied by U.S. firms will increase by 2 million apples per day.

• the price of apples in the United States will increase to 40 cents per apple.

• all of the above

Refer to Figure, At the price of ________ cents per apple, the United States imports 6 million apples per day.

• 20

• 30

• 40

• 60

Refer to Figure, The United States will import 2 million apples per day if a per-apple tax of ________ is levied on imported apples.

• 10 cents

• 20 cents

• 30 cents

• 40 cents

Refer to Figure, The United States will import 6 million apples per day if a per-apple tax of ________ is levied on imported apples

• 0 cents

• 10 cents

• 20 cents

• 30 cents

Refer to Figure, Assume that initially there is free trade. The price of apples in the United States will increase to 40 cents per apple if a ________ per apple tax is imposed.

• 10 cents

• 20 cents

• 30 cents

• 40 cents

Refer to Figure, Assume that initially there is free trade. The quantity demanded of apples will be reduced by 2 million per day if the United States imposes a tax of ________ per apple.

• 10 cents

• 20 cents

• 30 cents

• 40 cents