The MOST Likely Effects of Tariffs And/or Import Quotas Are

question 96

Multiple Choice

The MOST likely effects of tariffs and/or import quotas are to _____ prices and to _____ consumption of the protected goods in the importing country.

• A)raise;raise
• B)raise;lower
• C)lower;raise
• D)lower;lower

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Definitions:

Credibility

The quality or attribute of being believable or worthy of trust based on one's reliability, expertise, and honesty.

Trustworthiness

The ability to be relied on as honest or truthful.

Inoculation Theory

A psychological theory suggesting that exposure to weakened forms of an argument increases later resistance to that argument, similar to how exposure to a virus can create immunity.

Cognitive Dissonance

The psychological discomfort experienced when holding two or more conflicting beliefs, values, or attitudes simultaneously.