Reducing a Tariff on a Particular Good Does Which of the Following

question 70

Multiple Choice

Reducing a tariff on a particular good does which of the following?

• A)​It decreases the price of the domestic good to domestic consumers.
• B)​It increases the price of the good to domestic consumers.
• C)​It redistributes income away from domestic producers toward domestic consumers.
• D)​both (a) and (c)

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Definitions:

Professional

Pertaining to a person engaged or qualified in a profession that requires a certain level of education, skill, or training.

Inferiority Complex

An inferiority complex is a psychological condition where a person feels a deep sense of inadequacy and insecurity, often stemming from real or imagined inferiority to others.

Oedipal Complex

A concept in psychoanalytic theory describing a child's feelings of desire for the opposite-sex parent and jealousy and rivalry with the same-sex parent.

Denial

A defense mechanism in which an individual refuses to accept reality or facts, blocking external events from awareness.