Multiple Choice
SCENARIO: FINNISH STEEL
Suppose that the freetrade price of a ton of steel is €500.(Note: € is the
Symbol for the euro, a common currency used in 16 European countries,
Including Finland.) Finland, a small country, imposes a €60 perton
Specific tariff on imported steel.With the tariff, Finland produces 300,000
Tons of steel and consumes 600,000 tons of steel.
Reference: Ref 85
(Scenario: Finnish Steel) What is the value of the tariff revenue from the
€60perton tariff?
A) €6 million
B) €12 million
C) €18 million
D) €30 million
Correct Answer:
Verified
Correct Answer:
Verified
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