If a Country Imposes a Tariff on an Imported Good,the

question 127

Multiple Choice

If a country imposes a tariff on an imported good,the tariff ________ the price in the importing country and ________ the quantity of imports.

• A)raises;increases
• B)raises;does not change
• C)lowers;does not change
• D)lowers;increases
• E)raises;decreases

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Definitions:

Remittance

The process of sending money in payment or as a gift.

Discount Period

The time frame during which a discount is offered or can be availed of.

Complement Rates

Rates that when added together with another rate total a complete or whole number, often used in probability or statistics.

Equivalent Single Discount

A single discount rate that equates to a series of multiple discounts, simplifying pricing and discount calculations.