Tariffs Can Be Thought of as Indirect

question 100

Multiple Choice

Tariffs can be thought of as indirect:

• A)special taxes on domestic producers.
• B)subsidies to domestic producers.
• C)subsidies to foreign producers.
• D)subsidies to domestic consumers.

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Definitions:

Scarcity

A situation in which available resources are insufficient to satisfy all wants and demands.

Recessions

Periods of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in GDP in successive quarters.

Macroeconomics

The branch of economics that is concerned with the overall ups and downs in the economy.

Computer Engineers

Professionals who design, develop, and test computer systems and components such as processors, circuit boards, memory devices, and networks.