Examlex

Solved

If the USgovernment Implements a Tariff on Chinese Tire Imports,the Price of Price

question 31

Multiple Choice

If the U.S.government implements a tariff on Chinese tire imports,the price of Chinese-made tires will ________,the quantity demanded will ________,and consumer surplus will ________.


Definitions:

Government Ban

An official prohibition or restriction imposed by a governmental authority on certain activities, products, or substances.

Breach of Contract

An act of failing to fulfill the duties, terms, or conditions stipulated in a contract, which may result in legal action or penalties against the offending party.

Liquidated Damages

refers to a predetermined sum agreed upon by the parties to a contract, to be paid as compensation in case of breach of contract.

Exemption Clause

A contract term that attempts to limit or exclude liability for certain events or damages.

Related Questions