A Tariff Is Imposed on a Good

question 40

Multiple Choice

A tariff is imposed on a good.This ________ producer surplus and ________ total surplus in importing country.

• A)increases;does not change
• B)increases;increases
• C)decreases;increases
• D)decreases;decreases
• E)increases;decreases

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Definitions:

Primary Ideology

The fundamental set of beliefs and values that underpin and shape the culture and social structure of a society or group.

Material Contradictions

This term highlights the conflicting interests or characteristics inherent within the physical or economic aspects of society, leading to tensions or changes.

Historical Materialism

A Marxist framework that examines social and economic development through the lens of material conditions and class struggle, positing that economic base shapes societal superstructure.

Economic Production

The process of creating goods and services through the combination of labor, land, and capital.