Which Statement Is True of Tariff Reductions

question 80

Multiple Choice

Which statement is true of tariff reductions?

• A) Reciprocal tariff liberalization has quickly become widespread to support free trade.
• B) Tariff reductions primarily benefit import-competing industries within a nation.
• C) Tariff reductions lead to increased foreign competition that undermines the welfare of a nation.
• D) Tariff reductions can increase the overall welfare of a nation when affected industries are compensated for their losses.

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Definitions:

Time-function Mapping

A process analysis tool that visually represents a process's steps over time, helping identify delays, redundancies, and opportunities for improvement.

Flowchart

A drawing used to analyze movement of people or material.

Product-focused Process

A production strategy where operations are organized around the product being made, emphasizing specialized resources tailored to the requirements of the product.