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:

Legal Representative

An individual or entity authorized to act on behalf of another person or group in legal matters.

Pipeline Safety

Measures and protocols implemented to ensure the secure and efficient transportation of goods through pipelines, minimizing the risk of accidents or leaks.

Team Selling

A sales strategy where multiple individuals within an organization work together to close sales and manage client accounts, leveraging the diverse skills of the team.

Major Customers

The most important or significant clients to a business, usually accounting for a large portion of the company's revenue.