# Multiple Choice Solutions (1 Viewer)

#### brian1

##### New Member
oh shit misread the question thanks

#### brian1

##### New Member
thanks for the help though

#### oscartired

##### New Member
For question 20, I put A. Is it not the difference between WP imports (80-20=60) and the tariff of \$5 (70-30=40)? = 20?

It was a bit of a tricky question imo.

#### NotCricket

##### Active Member
For question 20, I put A. Is it not the difference between WP imports (80-20=60) and the tariff of \$5 (70-30=40)? = 20?

It was a bit of a tricky question imo.
No, it's not. Think of applying the \$5 tariff - how many imports exist at this level? 40
million.

#### oscartired

##### New Member
No, it's not. Think of applying the \$5 tariff - how many imports exist at this level? 40
million.
"the same effect on domestic output as a \$5 tariff". What is the effect on domestic output of a \$5 tariff? Imports shrink by 20, right? If the government implemented an import quota of \$20m at world price, wouldn't the effect be an increase of 20m in domestic supply?

#### Rebeccaz

##### New Member
Could someone please explain how they got B \$200 million for question 19?

Thanks

#### MrTaka

##### New Member
Ah, relieved think I got 19-20/20, however don't think I went as well in my essays... :[

#### hi im trash

##### Member
16/20, got the last 3 Q and Q2 wrong -.-.

#### chardy2651

##### Member
hey guys what is Q17 isnt it A?

#### BiasedBuffalo

##### Member
Could someone please explain how they got B \$200 million for question 19?

Thanks
Note the question is a tariff of \$15 ABOVE the market price.

So, at \$25, the government earns nothing because the market is solely supplied by the domestic industry.

At \$20, the difference between the quantity supplied and the quantity demanded is 20.

The value of the tariff is \$10, so 10x20 = \$200

Too ez

#### ariannemartell

##### New Member
Hey can someone please explain 15? I know it doesn't matter anymore but it's going to bother me

#### LikeaTeapot

##### New Member
Q2. I know Australia's part of the G20 but I accidentally coloured in the wrong bubble (was looking at q3) and only realised when they said pens down.
Q15. Read the question as the curve shifting from B to A rather than A to B (don't know how)
Q18. to work out the simple multiplier I kept calculating (370-320=90) (don't ask) and hence wasn't getting any of the answers and quickly guessed the wrong option in the last minute.

I keep making the most ridiculous errors in all my exams (left five marks blank in mathematics) D:

#### blast92

##### Aim: 85+
15/20, same as trials lol.

#### ally__powell

##### New Member
does anyone have a copy of the paper - for multiple choice

#### Triage

##### Member
Note the question is a tariff of \$15 ABOVE the market price.

So, at \$25, the government earns nothing because the market is solely supplied by the domestic industry.

At \$20, the difference between the quantity supplied and the quantity demanded is 20.

The value of the tariff is \$10, so 10x20 = \$200
Nope. It is \$15 above the world price. This is a diagram of the domestic market. Hence, it is the difference between supply and demand that accounts for the tariff.

#### enigma_1

##### ~~~~ Miss Cricket ~~~~
Nope. It is \$15 above the world price. This is a diagram of the domestic market. Hence, it is the difference between supply and demand that accounts for the tariff.
Wait so what's the answer for this question?

#### Triage

##### Member
Wait so what's the answer for this question?
I agree with \$200. I just think that BiasedBuffalo's reasoning was wrong.

#### photastic

##### Well-Known Member
I agree with \$200. I just think that BiasedBuffalo's reasoning was wrong.
Well, wrong reasoning = Correct answer?! :O

So many sillies for the MC. Probs 70 raw atm

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#### enigma_1

##### ~~~~ Miss Cricket ~~~~
I agree with \$200. I just think that BiasedBuffalo's reasoning was wrong.
Omg thank gosh!
Thanks