Which of the Following Observations About Tariffs Is True

question 63

Multiple Choice

Which of the following observations about tariffs is true?

• A) Tariffs are generally anti-producer and pro-consumer.
• B) Export tariffs are used to raise revenue for the government.
• C) Export tariffs are far more common than import tariffs.
• D) Import tariffs increase the overall efficiency of the world economy.

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Definitions:

Expand

To expand an algebraic expression means to simplify the expression by distributing multiplication over addition or subtraction and combining like terms.

Binomial Theorem

A principle in algebra that describes the algebraic expansion of powers of a binomial.

Expand

To express a mathematical expression in an extended form by removing parentheses or factoring, usually by applying the distributive property.

Binomial Theorem

A formula for expressing the powers of sums, which identifies the expansion of a binomial raised to any positive integer power.