Imposing a Tariff on a Good Leads to a ________

question 13

Multiple Choice

Imposing a tariff on a good leads to a ________ in the price of the product and ________ in imports.

• A) fall; a decrease
• B) fall; an increase
• C) rise; a decrease
• D) rise; an increase
• E) rise; no change

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Definitions:

Confidence Interval

An interval of values, derived from statistics gathered from a sample, expected to cover the value of a hidden parameter in a population.

Standard Error

A statistic that measures the accuracy with which a sample distribution represents a population using the standard deviation of the sampling distribution.

Confidence Interval

A selection of values, based on sample results, assumed to incorporate the value of an obscure population parameter.

Mean

The average value of a data set, calculated by adding up all the numbers in the set and then dividing by the count of the numbers.