Suppose That India Changes the Tariff on All Imports from 40

question 5

Multiple Choice

Suppose that India changes the tariff on all imports from 40% to 10%. What is the desired effect of this change?

• A) to increase the price and amount of imports
• B) to decrease the price and amount of imports
• C) to increase the price of imports and decrease the amount of imports
• D) to decrease the price of imports and increase the amount of imports

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Definitions:

Corruptive

Referring to actions or behaviors that are dishonest, unethical, or designed to achieve an unfair advantage.

Iron Law

A principle suggesting that strong and enduring political organizations or movements tend towards oligarchy, even when they start out democratically.

Personal Integrity

Adherence to moral and ethical principles, characterized by honesty, consistency, and accuracy in one’s actions and beliefs.

Unethical Behavior

Actions that violate moral or professional standards of conduct.