Multiple Choice
If Australia imposes a tariff on foreign chocolate, how are Australian buyers of chocolate affected?
A) The price they pay for chocolate falls but they consume less chocolate because less is imported.
B) The quantity they consume is unchanged.
C) The price they pay for chocolate falls and they consume more chocolate.
D) The price they pay for chocolate rises.
E) Their demand for chocolate increases because Australian production of chocolate increases.
Correct Answer:

Verified
Correct Answer:
Verified
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Q21: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The above figure
Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -When a country
Q23: Which type of policy instrument raises the
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Q26: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The figure above
Q27: Economists argue for free trade in export
Q28: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The above figure
Q29: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -The figure above
Q30: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7671/.jpg" alt=" -If a nation