1. Since the mid-1970s until 2017, the average U.S. tariff rate was A. between 26 percent and 35 percent. B. less than 5 percent. C. between 6 percent and 15 percent. D. between 16 percent and 25 percent. E. larger than 36 percent.

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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1. Since the mid-1970s until 2017, the average U.S. tariff rate was
A. between 26 percent and 35 percent.
B. less than 5 percent.
C. between 6 percent and 15 percent.
D. between 16 percent and 25 percent.
E. larger than 36 percent.
2. When a nation exports a good, its total surplus
A. increases; decreases
B. decreases; decreases
C. increases; increases
D. does not change; does not change
E. decreases; increases.
, and when it imports a good, its total surplus
Transcribed Image Text:1. Since the mid-1970s until 2017, the average U.S. tariff rate was A. between 26 percent and 35 percent. B. less than 5 percent. C. between 6 percent and 15 percent. D. between 16 percent and 25 percent. E. larger than 36 percent. 2. When a nation exports a good, its total surplus A. increases; decreases B. decreases; decreases C. increases; increases D. does not change; does not change E. decreases; increases. , and when it imports a good, its total surplus
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