Which of These Typically Occurs When a New Tariff Is

question 205

Multiple Choice

Which of these typically occurs when a new tariff is imposed on the import of foreign-made steel as a result of a national defense argument?

• A) Consumers will pay lower prices while deadweight loss is reduced.
• B) Consumers will pay lower prices while deadweight loss is created.
• C) Consumers will pay higher prices while deadweight loss is reduced.
• D) Consumers will pay higher prices while deadweight loss is created.

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Definitions:

Workforce

The collective group of individuals who are engaged in work or are available for work, including both employees and the unemployed.

Downsizing

The process of reducing the number of employees in an organization, usually to cut costs or adjust to a smaller market demand.

Outsourcing

Contracting tasks to outside agencies or persons.

Employee Relations

The management and maintenance of the relationship between an organization and its employees, focusing on communication, conflict resolution, and employee satisfaction.