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Quiz Instructions There are 43 questions In total. Budget your time wisely! Question 31 Nominal rates of protection are always smaller than effective rates of protection. cannot be negative. O refer to the tariffs placed on intermediate goods used to make the final good or service. are always greater than effective rates of protection.Started Nov 19 at 9:28am Wn Browser + Webcam as Quiz Instructions There are 43 questions in total. Budget your time whiely! Question 32 2 pts Suppose a manufacturer of software develops a new computer program that sells for $50. The $50 cost includes $0.25 for the CD it is stored on, $5 for the labor of the company software programmers, and $1.75 for packaging materials and transportation costs. Value added by the software company is @ $49.75. $44.75. O $48. $48.25. Not saved novoThere are 43 questions in total Budget your time wisely! Question 33 2 pts Which of the following is FALSE? Taxes on income and property run into powerful interest groups in low-income countries, which work to prevent the creation of payment of these taxes. Tariffs are not an attractive tax option for most low-income countries, so they mostly rely on quota licenses for revenue. Taxes on income, sales, and property require more complex accounting systems than do tariffs. Tariffs are a relatively easy tax to administer and often form an important part of revenue for low-income countries. @ Low-income countries often have large informal markets with the sales of many goods and services not being recorded, which makes it difficult to apply many kinds of taxes. NEXT Not savedThere are 43 questions in total. Budget your time wisely! Question 34 In which way are tariffs different from export subsidies? They reduce the volume of imported products. They raise government revenue. They increase the domestic quantity supplied of the product. They raise the price of the imported products to consumers.There are 43 questions In total. Budget your time wisely! Question 35 2 pts The government will raise $2.5 million. The government will raise $5 million. The government will see no increase in income; because the country is small, foreign firms will simply not serve it after the tariff is imposed The government will raise $15 million. The government will raise $32.5 million. New Not savedLise the graph below and the following Information to answer the next question(e). The world price of soybeans is $200 per bushel, and the Importing country is small enough not to effect the world price. 2.25 2.00 World price D 60 70 130 140 O/millions bushels Figure 6.1 Based on Figure 6.1, how much revenue will the government raise from a $0.25 per bushel tariff on soybean imports? The government will raise $2.5 million