Which of the Following Correctly Identifies the Impact of Tariffs

question 46

Multiple Choice

Which of the following correctly identifies the impact of tariffs on the producers of import-competing products in the imposing country?

• A)They can price their products higher than the imported goods.
• B)They can expand their production and sales.
• C)They are forced to go out of business in the long run.
• D)They are forced to charge a price equal to the average cost of production.

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Definitions:

Self-regulation

The ability of an individual to manage and control their thoughts, emotions, and behaviors in accordance with long-term goals.

Self-awareness

refers to the conscious knowledge of one's own character, feelings, motives, and desires.

Abstract Goals

Objectives that are not tangible or specific but involve broader, general ideas.

Envision the Future

The act of imagining or predicting what will or could happen in the future.