If Tariffs Are Decreased, the Long-Run Effect Is Most Likely

question 30

Multiple Choice

If tariffs are decreased, the long-run effect is most likely to be

• A) a decrease in both U.S. imports and exports.
• B) an increase in both U.S. imports and exports.
• C) a decrease in U.S. imports and an increase in U.S. exports.
• D) an increase in U.S. imports and a decrease in U.S. exports.

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Definitions:

Multilateral Negotiations

Negotiations involving more than two parties or countries, aimed at reaching a mutual agreement.

Basis

The underlying support or foundation for an idea, argument, or process.

Additional Parties

Refers to extra individuals or groups involved in a negotiation or decision-making process beyond the primary stakeholders.

Invited

Requested to attend or participate in a particular event or activity.