The MOST Likely Effects of Tariffs And/or Import Quotas Are

question 96

Multiple Choice

The MOST likely effects of tariffs and/or import quotas are to _____ prices and to _____ consumption of the protected goods in the importing country.

• A)raise;raise
• B)raise;lower
• C)lower;raise
• D)lower;lower

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Definitions:

Cash Assistance

Financial aid given to individuals or families to help them meet basic needs, typically provided by government agencies.

Official Poverty Line

A government-determined income level below which an individual or family is considered to be living in poverty, affecting eligibility for certain public assistance programs.

U.S. Poverty Rate

The proportion of the population in the United States living below the poverty line, as defined by the federal government.

Non-cash Benefits

Forms of compensation provided to employees or beneficiaries that are not paid out in cash, such as health insurance, pensions, and company cars.