If the United States Increases Tariffs on Imports of Lumber

question 145

Multiple Choice

If the United States increases tariffs on imports of lumber from Canada (which raises the price of lumber in the United States) ,the equilibrium price of new homes in the United States will _____ and the equilibrium quantity of new homes in the United States will _____.

• A)increase;increase
• B)increase;decrease
• C)decrease;increase
• D)decrease;decrease

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Definitions:

Standard Deviations

Standard deviations measure the amount of variability or dispersion from the average in a set of data.

N = 15

Specifies the sample size of a study or dataset, indicating that there are 15 observations or elements.

Males

Refers to the male gender or sex in biological or sociological contexts.

Females

A term often used in research or statistics to denote the sex category of subjects or participants that identifies as female.