If a Small Nation Increases the Tariff on Its Import

question 14

Multiple Choice

If a small nation increases the tariff on its import commodity,its:

• A) consumption of the commodity increases
• B) production of the commodity decreases
• C) imports of the commodity increase
• D) domestic price of the commodity increases

---

Definitions:

Grit

A personality trait characterized by persistence and resilience in the face of failure or obstacles.

Variety of Flavors

The range or assortment of distinct tastes available in food or drink, contributed by ingredients and preparation methods.

Cultural Influences

The impact of culture on an individual's beliefs, behaviors, and understanding of the world.

Self-Efficacy

The belief in one's abilities to succeed in specific situations or accomplish a task.