Large Countries Can Improve Their Welfare by Levying a Tariff

question 55

Multiple Choice

Large countries can improve their welfare by levying a tariff if it does NOT

• A)reduce rent seeking elsewhere in the economy.
• B)create a deadweight loss.
• C)lead to retaliation by the nation's trading partners.
• D)increase domestic production of the good.

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Definitions:

Gastrulation

Gastrulation is a phase early in embryonic development during which the single-layered blastula is reorganized into a multilayered structure called the gastrula.

Germ Layers

In animals, three embryonic tissue layers: endoderm, mesoderm, and ectoderm

Echinoderms

A phylum of marine animals characterized by radial symmetry, a calcareous skeleton, and a water vascular system, includes starfish and sea urchins.

Primitive Groove

A depression or furrow on the surface of an early embryo that is involved in the process of gastrulation, leading to the development of different layers.