Relative to Free Trade,when a Tariff Is Imposed in a Market

question 35

Multiple Choice

Relative to free trade,when a tariff is imposed in a market for an imported good,

• A) the consumer surplus in that market increases.
• B) the producer surplus in that market decreases.
• C) the total surplus in that market decreases.
• D) tariff revenue decreases.
• E) deadweight loss decreases.

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Definitions:

Tax Return Form

The document or electronic form used to report income, deduct expenses, and calculate taxes owed or refunded by the taxpayer.

Taxpayer

An individual or entity that is obligated to pay taxes to a federal, state, or local government body.

Dependent Child

A child who relies on a parent or guardian for financial support and meets certain IRS criteria, enabling the parent to claim tax benefits.

Negligence

Failure to take proper care in doing something, resulting in damage or injury to another.