Which of the Following Statements Concerning Tariffs Is NOT

question 20

Multiple Choice

Which of the following statements concerning tariffs is NOT true?

• A) A tariff creates revenue for the government.
• B) A tariff leaves the price of imports unchanged.
• C) A tariff decreases international trade.
• D) A tariff results in a loss for for domestic consumers of the good.

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Definitions:

Mining Partner

A member of a partnership formed for the purpose of mining activities, sharing in the profits and liabilities of the venture.

Transferable

Capable of being passed on or conveyed from one person or entity to another.

Partnership Capital

When a partnership or limited liability partnership is formed, partners contribute cash or other property to the partnership.

Loans

A financial arrangement in which an entity lends money to another with the expectation it will be repaid, often with interest.