If Australia Changed the Average Import Tariff on All Goods

question 29

Multiple Choice

If Australia changed the average import tariff on all goods from 30% to 2%, what would be the expected impact?

• A) more consumer choice
• B) higher consumer prices
• C) an import quota
• D) an increase in exports

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Definitions:

Mechanism

A detailed description of the step-by-step process by which reactants are converted into products in a chemical reaction.

Organic Product

A substance that results from organic reactions, typically containing carbon atoms bonded to hydrogen, oxygen, or other carbon atoms.

Chair Conformation

A term used in organic chemistry to describe the most stable conformation of cyclohexane, resembling a chair, which minimizes steric hindrance and sets the stage for discussions on stereochemistry.

Substituted Cyclohexane

A cyclohexane molecule in which one or more of the hydrogen atoms have been replaced by another atom or group of atoms, affecting its chemical and physical properties.