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:

Middle-aged White Men

Males of Caucasian ethnicity typically in the age range of 45 to 65 years.

Intrinsic Motivator

An internal drive that compels individuals to act based on inner rewards, passion, or interest, without external incentives.

Intellectual Ability

The capacity to think, learn, and make sense of the world through mental processes, reasoning, and problem-solving.

Peer Pressure

Influence from members of one's peer group to adopt certain behaviors, values, or conform to group norms.