If a Tariff Is Imposed by a Country That Is

question 25

Multiple Choice

If a tariff is imposed by a country that is large enough to have market power in global markets,the domestic consumer will face a domestic price ________ than the world price for the product,and this world price will be ________ by the tariff.

• A)higher; reduced
• B)higher; increased
• C)lower; increased
• D)lower; unaffected
• E)lower; reduced

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Definitions:

AIDS

A deadly disease known as Acquired Immune Deficiency Syndrome, resulting from the human immunodeficiency virus (HIV) that extensively weakens the immune system.

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A physical, mental, or emotional factor causing bodily or mental tension.

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