If a country has a trade surplus of $60 billion, which of the following can be true? OA. The country's exports are $160 billion, and its imports are $60 billion. OB. The country's exports are $120 billion, and its imports are $180 billion. OC. The country's exports are $110 billion, and its imports are $190 billion. OD. The country's exports are $180 billion, and its imports are $120 billion.

If a country has a trade surplus of $60 billion, which of the following can be true? OA. The country's exports are $160 billion, and its imports are $60 billion. OB. The country's exports are $120 billion, and its imports are $180 billion. OC. The country's exports are $110 billion, and its imports are $190 billion. OD. The country's exports are $180 billion, and its imports are $120 billion.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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e. Suppose the policy makers in the newly opened economy are concerned about the welfare of computer producers. Hence, they decide to impose a 30% tariff (a tax on imports) on imported computers. Show the price of computers in the newly opened economy after the tariff is imposed. Show the consumer surplus, producer surplus, equilibrium price and quantity traded after the tariff is imposed. Also make sure to show the government's tariff revenue. f.In this newly opened economy, who benefited from the tariff? The consumers, the producers, the government? QUESTION 3 a. What are some arguments discussed in your textbook for opening up to international trade? b. What are some arguments discussed in your textbook for restricting free trade?
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Which of the following statements is true about trade surpluses? generating a trade surplus and an overall net inflow of capital is impossible O the government should always strive for a trade surplus and a healthy inflow of foreign capital O increasing foreign capital investment is better than generating a trade surplus the government generating a trade surplus is better than increasing foreign capital inflows
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