When a Country Decides to Impose a Tariff on a Good

question 12

Multiple Choice

When a country decides to impose a tariff on a good they are already importing,we can expect the ________ to decrease and the price of the good to ________.

• A) supply; increase
• B) supply; decrease
• C) demand; decrease
• D) demand; increase
• E) supply and demand; decrease

Appreciate the importance of intervention strategies in applied social psychology.

Understand the influence of social situations and individual differences on behavior.

Identify the contributions of key figures and historical perspectives in applied social psychology.

Describe the scientific methods and goals of applied social psychology.

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Definitions:

Cost-Benefit

An analysis or approach that compares the costs of an action to its benefits to determine its feasibility or value.

Internal Controls

Procedures and mechanisms put in place by a company to safeguard assets, enhance the reliability of financial reports, and ensure compliance with laws and regulations.

Benefits

Forms of non-wage compensation provided to employees in addition to their normal wages or salaries, like health insurance, pensions, and holidays.

Voucher

A document authorizing a payment, or indicating an intention to make a payment, for goods or services received.