An Import Tariff Will Cause the Relative Demand for ________

question 38

Multiple Choice

An import tariff will cause the relative demand for ________ to ________ and the relative supply for ________ to ________.

• A) imports; decrease; imports; increase
• B) imports; increase; imports; decrease
• C) exports; increase; exports; decrease
• D) exports; decrease; exports; increase
• E) exports; increase; imports; decrease

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Definitions:

Management by Objectives

A strategic management model that aims to improve the performance of an organization by clearly defining objectives that are agreed upon by both management and employees.

Core Competencies

Fundamental skills, knowledge, and abilities that are essential for an organization or individual to stand out in their field.

Business Strategy

A plan of action designed to achieve a long-term or overall aim in the business context.

Merit Raises

A method of increasing an employee's pay based on their performance.