Lowering the Tariff on Imported Ethanol

question 54

Multiple Choice

Lowering the tariff on imported ethanol

• A) increases domestic employment in the ethanol industry.
• B) increases the imports of ethanol.
• C) increases the domestic price of ethanol.
• D) has no effect unless the nation's trading partner also lowers its tariff on ethanol.

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Definitions:

Protection

Measures or actions taken to safeguard against harm or damage, often in the context of legal rights, intellectual property, or personal safety.

Identification

The process of recognizing or establishing the identity of a person or thing, often through the analysis of identifying factors or markers.

Goods

Items or merchandise that are tangible, movable, and sold or used in commerce.

Contract

A legally binding agreement between two or more parties that outlines rights and duties and is enforceable by law.