Which of the Following Would Be the Most Likely Long-Run

question 29

Multiple Choice

Which of the following would be the most likely long-run effect if the United States increased its tariff rates and adopted stricter import quotas?

• 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:

Skilled Tailor

A craftsman specialized in making, altering, or fitting garments in a professional and adept manner.

Skirt

A garment fastened around the waist and hanging down around the legs, worn typically by women and girls.

Merchandising

The activity of promoting the sale of goods, especially by their presentation in retail outlets.

Opportunity

A set of circumstances that makes it possible to do something or achieve a goal.