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A Tariff Is Imposed on a Good

question 84

Multiple Choice

A tariff is imposed on a good. The tariff will ________ the domestic quantity supplied, ________ the domestic quantity demanded, and ________ price in the home country.


Definitions:

1861

The year that marked the beginning of the American Civil War, following the secession of several southern states from the Union.

Lincoln

The 16th President of the United States, Abraham Lincoln, known for leading the country during the Civil War and abolishing slavery.

1860 Election

The presidential election in which Republican Abraham Lincoln defeated three other candidates, leading to the secession of Southern states.

Presidential Candidate

A person who is nominated or runs for election to the office of the President.

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