A-LevelEconomicsInternational Trade / ProtectionismOct/Nov 2021Paper 1 Q271 Mark
The diagram shows the effect of the United States (US) imposing a tariff on the import of steel in 2018. Which statement about the impact of the tariff is correct?
AConsumer surplus falls from P₁TO to PUO.
BDomestic output increases from OQ1 to OQ3.
CImports fall from Q1Q4 to Q2Q3.
DThe tax revenue raised on imports is P₁YWP.
✓ Correct Answer
The correct answer is C. This question tests the candidate's understanding of international trade / protectionism within the Economicssyllabus. The examiner's mark scheme requires...
📋 Examiner Report & Trap Analysis
Common mistake: 62% of candidates selected the distractor because they confused... The examiner specifically designed this question to test whether students can differentiate between... To secure full marks, candidates must demonstrate...
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