A Tariff on Imported Peanuts ________ the Quantity of Peanuts

question 65

Multiple Choice

A tariff on imported peanuts ________ the quantity of peanuts imported and ________ the domestic price of peanuts.

• A) decreases; decreases
• B) decreases; increases
• C) increases; lowers
• D) does not change; increases

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Definitions:

Futures Price

The agreed-upon price for the sale/purchase of an asset at a future date, as determined in a futures contract.

Metals

Elements that are typically hard, shiny, malleable, fusible, and ductile, with good electrical and thermal conductivity, used in a wide range of industrial and decorative applications.

Energy Currency

This term is often used to describe the primary unit of energy that is spent or exchanged within a biological or ecological system, or in economics to compare energy costs across different types of energy.

Actively Traded

Refers to stocks, securities, or other financial instruments that are frequently bought and sold, often indicated by high trading volumes.