Suppose That the United States Eliminated Its Tariff on Automobiles,granting

question 32

Multiple Choice

Suppose that the United States eliminated its tariff on automobiles,granting foreign-produced automobiles free entry into the U.S.market.Which of the following would be most likely to occur?

• A)The price of automobiles to U.S.consumers would decline,and the demand for U.S.export products would increase.
• B)The price of automobiles to U.S.consumers would increase,and the demand for U.S.export products would decline.
• C)The price of automobiles to U.S.consumers would decline,and the demand for U.S.export products would decline.
• D)The price of automobiles to U.S.consumers would increase,and the demand for U.S.export products would increase.

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Definitions:

Continuous Improvements

An ongoing effort to improve products, services, or processes by making incremental improvements over time.

Automobile Production

The industry and processes involved in the design, manufacturing, and sale of cars and other vehicles.

Alphabetical Listing

An ordered arrangement of items according to the letters of the alphabet.

Index

An alphabetical list, found in the back of a book, which gives page numbers where information on subjects or phrases discussed can be found.