For a Large Nation, the Levying of an Import Tariff

question 151

Multiple Choice

For a large nation, the levying of an import tariff on steel

• A) necessarily causes the nation's welfare to decline.
• B) causes the price of steel on the world market to decline.
• C) causes the price of steel for domestic consumers to rise by the full amount of the tariff.
• D) necessarily causes the nation's welfare to increase.

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