The Imposition of a Tariff on Imported Wine Will Increase

question 170

True/False

The imposition of a tariff on imported wine will increase the domestic price of wine, decrease the quantity of wine imported, and increase the quantity of wine produced domestically.

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Definitions:

Dimensional-analysis

A mathematical technique used to convert units of measurement without changing the dimensional or physical value.

Kilometers

A unit of length in the metric system equal to 1,000 meters, often used to measure distances.

Miles

Units of distance measuring 5,280 feet, or approximately 1.609 kilometers, commonly used in the United States.

Dimensional-analysis

A mathematical technique used to convert one set of units to another, facilitating computations and solving problems.