A Tariff Affects Imports

question 76

Multiple Choice

A tariff affects imports

• A)by limiting quantity and raising price to a higher level.
• B)by reducing quantity demanded so that supply falls.
• C)by increasing supply, raising price, and reducing demand.
• D)by raising price and reducing quantity demanded.

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Definitions:

A Datum

A single piece of information or data point.

Specified Characteristic

A particular property or attribute that is identified for observation or measurement in a study.

Ascending Magnitude

A sequence or arrangement in which values increase in order from smallest to largest.

Traffic Congestion

A condition on transport networks that occurs as use increases, and is characterized by slower speeds, longer trip times, and increased vehicular queueing.