Tariff Levels in Developing Countries Tend to Be ________ Tariff

question 24

Multiple Choice

Tariff levels in developing countries tend to be ________ tariff levels in developed countries.

• A)lower than
• B)about equal to
• C)higher than
• D)there is no general pattern

---

Definitions:

Import Quotas

Restrictions set by the government on the amount or monetary worth of products allowed into a nation, aimed at shielding local businesses from overseas rivals.

Increased-Domestic-Employment

A situation where the number of jobs within a country rises, often as a result of economic growth or policies.

Net Exports

The value of a country's total exports minus the value of its total imports; it can be a positive number (trade surplus) or a negative number (trade deficit).

Wage Rates

The standardized amount of payment given to employees for their services, usually expressed per hour or per annum.