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-If the Economy in the Diagram Above Is Open to Trade,the

Question 58

Multiple Choice

-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel,and the government places a $5 per-barrel tariff on oil imports,then this economy will ________ million barrels of oil. A) import 7 B) import 9 C) import 16 D) export 9 E) export 7
-If the economy in the diagram above is open to trade,the world price of oil is $20 per barrel,and the government places a $5 per-barrel tariff on oil imports,then this economy will ________ million barrels of oil.


A) import 7
B) import 9
C) import 16
D) export 9
E) export 7

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