How Might an Export Tariff in a Large Country Improve

question 141

Multiple Choice

How might an export tariff in a large country improve the
Country's economic welfare?

• A)The export tariff will always improve the country's welfare, since there are no deadweight consumption and
• Production losses.
• B)The export tariff will improve the country's welfare if terms of trade gains are larger than deadweight
• Consumption and production losses.
• C)The export tariff will never improve the country's welfare, since deadweight consumption and production
• Losses always outweigh terms of trade gains.
• D)The export tariff will improve the country's welfare if deadweight consumption and production losses are greater
• Than terms of trade gains.

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Definitions:

Dissolution Of The Partnership

The process of legally terminating the existence of a partnership business.

Actual Authority

The express power granted by a principal to an agent to act on their behalf.

Operation Of Law

Changes in rights or obligations that occur automatically due to established legal rules, without the need for action by the parties involved.

Bankruptcy

A legal process through which individuals or businesses unable to meet their financial obligations can seek relief from some or all of their debts.