Which of the Following Is NOT Correct About the Effects

question 21

Multiple Choice

Which of the following is NOT correct about the effects of a tariff on an imported product?

• A)Tariffs benefit domestic producers by raising price and domestic output.
• B)Tariffs increase government revenue.
• C)Tariffs mean higher prices and less consumption for consumers of the product.
• D)Tariffs increase the efficiency of how resources are allocated.

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Definitions:

Over-The-Counter

A decentralized market where securities that are not listed on formal exchanges are traded, usually through a network of dealers.

Cash Receipts

The collection of money, typically in the form of cash or checks, received by a business.

Electronic Cash Registers

Machines or systems used at retail checkout points to calculate and record sales transactions, accept payments, and store cash.

Designated Personnel

Individuals who are specifically chosen or assigned to carry out particular tasks or responsibilities.