Which of the Following Would Be Expected If the Tariff

question 62

Multiple Choice

Which of the following would be expected if the tariff on foreign-produced shoes were decreased?

• A) The domestic price of shoes would fall.
• B) The supply of foreign shoes to the domestic market would decline, causing shoe prices to rise.
• C) The number of unemployed workers in the domestic shoe industry would decline.
• D) The demand for foreign-produced shoes would decrease, causing the price of shoes to increase in other nations.

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Definitions:

Source Traits

Fundamental characteristics that underlie an individual's behavior, forming the foundation of their personality.

16 PF Test

A personality test that measures sixteen personality factors, used for psychological evaluation.

Factor Analysis

A statistical technique that explains the variance among observed, related variables through a smaller number of latent variables, known as factors.

Genetically Based

Characteristics or traits that are influenced by genes inherited from one's parents.