As a Result of a Tariff on Imports

question 121

Multiple Choice

As a result of a tariff on imports,

• A) imports will fall, exports will fall, and total output will decline.
• B) imports will fall, exports will rise, and total output will decline.
• C) imports will rise, exports will fall, and total output will expand.
• D) imports will rise, exports will rise, and total output will expand.

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Definitions:

Equity Comparisons

The process by which individuals assess fairness in distribution of resources by comparing their own balance of contributions and rewards to others'.

Equity Theory

A psychological theory stating that individuals assess their job satisfaction and motivation by comparing their job inputs (effort, skill level, etc.) and outcomes (salary, recognition) with those of others around them.

Underpaid Individual

A person who receives less compensation for their work than is considered fair or equitable relative to their job role, industry standards, or the value they provide.

Achieve Equity

The process or aim of ensuring fairness and justice within the allocation of resources, responsibilities, and opportunities among members of a community or organization.