Which of the Following Statements Is True with Respect to a Tariff

question 43

Multiple Choice

Which of the following statements is true with respect to a tariff on imported cheese?

• A) It lowers the price of cheese.
• B) It lowers domestic cheese producers' profits.
• C) It creates tax revenues for the government.
• D) It cannot result in retaliation.

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Definitions:

Enforceable

Capable of being imposed or upheld by legal process or action.

Lifetime Employment

A job guarantee in which an employee can expect to remain employed in their position for their entire working life.

Oral Contract

An agreement between parties that is spoken and not written, yet is legally binding unless specifically required by law to be written.

Enforceable

Capable of being executed or imposed in accordance with legal or contractual requirements.