A Tariff

question 13

Multiple Choice

A tariff

• A) cannot be collected by the exporting country.
• B) can be collected only by the importing country.
• C) can be collected by countries through which goods pass.
• D) cannot be used to raise money for a government.
• E) cannot be used to increase the cost of foreign goods.

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Definitions:

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person’s mind when evaluating a specific topic, concept, method, or decision.

Overconfidence Effect

The cognitive bias where an individual's subjective confidence in their judgments is greater than their objective accuracy.

Availability Heuristic

A cognitive shortcut based on the first examples that surface in one's thoughts when considering a particular topic, idea, strategy, or choice.