Other / Principles of Micro Economics


SCENARIO 3 – What are the gains and losses of international trade? What happens when tariffs are imposed, in terms of the importing and exporting countries? Use graphs as need and explain your answer thoroughly.
SCENARIO 4 – If the government doubled the tax on gasoline, would the tax revenue increase or decrease? Why? Use graphs as needed and explain your answer thoroughly.
Using the scenarios above, create a 2-3 page Microsoft Word document. Include a summary section in your report that contains 5-7 bullet points identifying your major findings or conclusions of your paper.