An Australian Tariff on Textiles Would _______ Australian Clothing Prices

question 9

Multiple Choice

An Australian tariff on textiles would _______ Australian clothing prices and _______ jobs in the Australian textile industry.

• A) reduce; decrease
• B) raise; decrease
• C) reduce; increase
• D) raise; increase

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Definitions:

Variable Costs Per Unit

The costs that vary directly in proportion to changes in the level of production or sales volume.

Activity

A task, action, or operation performed in a business or industrial context, often contributing to a larger set of operations.

Committed Fixed Costs

Expenses that a company has an obligation to pay, regardless of the level of production or sales activity, such as rent, insurance, and salaries.

One-Year

A period of time consisting of 12 consecutive months.