A Tariff Disrupts the Workings of the Law of One

question 73

Multiple Choice

A tariff disrupts the workings of the law of one price because tariffs:

• A) are standardized by GATT.
• B) are taxes on imports and can vary across products and countries.
• C) apply only to goods countries export.
• D) are only applied to commodity products.

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Definitions:

Protect Themselves

Actions or measures taken by individuals or entities to safeguard against harm or danger.

Receiver

In communication, the individual or group who receives and interprets the message sent by the sender.

Sender

In communication, the sender is the individual or entity that initiates a message or information to be communicated to others.

Nonverbal Messages

Communication cues transmitted without words, such as gestures, facial expressions, and body language.