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Economics Mcqs
Q
With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?
AA. 1,600 computers, decrease, increase
BB. 1,600 computers, increase, decrease
CC. 1,200 computers, decrease, increase
DD. 1,200 computers, increase, decrease
Correct Answer:
B. B. 1,600 computers, increase, decrease