If a Tariff Is Imposed by a Country That Is

question 105

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 an autarkic price than the world price for the product,and this world price will be by the tariff.

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

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Definitions:

Regression Line

A regression line is a straight line that best fits the data points in a scatter plot, showing the relationship between an independent and a dependent variable.

Variation

The degree to which data points in a statistical distribution or dataset differ from each other and from the mean.

Coefficient Of Determination

A statistic used in the context of predictive models that represents the proportion of variance in the dependent variable predictable from the independent variable(s), usually denoted as R².

Variation

The measure of the spread or distribution of a set of data points.