The Imposition of an Import Tariff by a Large Nation

question 13

Multiple Choice

The imposition of an import tariff by a large nation:

• A)increases the nation's terms of trade
• B)reduces the volume of trade
• C)may increase or reduce the nation's welfare
• D)all of the above

---

Definitions:

Cause-And-Effect

refers to a relationship between events or variables, where one is the result of the other or others.

Computer Ownership

The state or fact of owning a computer, indicating possession and responsibility for the hardware.

Life Expectancy

The average period that an individual is expected to live, based on statistical averages of age, gender, and other factors.

Lurking Variable

A variable that is not directly measured or included in a study but can affect the relationship between the studied variables.