A Tariff Designed to Eliminate Foreign Competition Completely Will Be

question 6

Multiple Choice

A tariff designed to eliminate foreign competition completely will be expected to raise:

• A) either a large or a small amount of revenue depending on the magnitude of the tariff imposed.
• B) a relatively large amount of tax revenue.
• C) an amount of revenue equal to the amount of the tariff multiplied by the volume of exports.
• D) a relatively small amount of tax revenue.

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Definitions:

Iris

The colored part of the eye surrounding the pupil, responsible for controlling the diameter and size of the pupil.

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, responsible for focusing most of the light that enters the eye.

Eye

An organ of vision that detects light and converts it into electro-chemical impulses in neurons.

Circular Opening

An opening or hole that is round in shape.