A Tariff

question 121

Multiple Choice

A tariff

• A) is a tax imposed on imported goods.
• B) is a tax imposed on exported goods.
• C) encourages worldwide specialization according to the principle of comparative advantage.
• D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by domestic producers.

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Definitions:

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Hamilton

A groundbreaking American musical by Lin-Manuel Miranda, inspired by the life of Founding Father Alexander Hamilton, featuring a diverse cast and a blend of hip-hop, jazz, and R&B.