Suppose the United States Eliminates Its Tariff on Ball Bearings

question 20

Multiple Choice

Suppose the United States eliminates its tariff on ball bearings used in producing exports.Ball bearing prices in the United States would be expected to

• A)decrease,and the foreign demand for U.S.exports would increase.
• B)increase,and the foreign demand for U.S.exports would increase.
• C)decrease,and the foreign demand for U.S.exports would decrease.
• D)increase,and the foreign demand for U.S.exports would decrease.
• E)decrease,and the foreign demand would be unchanged.

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Definitions:

System of Equations

A set of equations with the same variables, which are to be solved simultaneously.

Method of Substitution

A technique for solving systems of equations where one of the equations is solved for one variable in terms of the others, and then substituted into the other equation(s).

System of Equations

A set of equations with the same variables, which are solved together to find the values of these variables.

System of Equations

A set of two or more equations with the same set of variables, which are solved together.