Politicians Often Argue for Tariff Increases in Order to Reduce

question 136

Multiple Choice

Politicians often argue for tariff increases in order to reduce the size of a balance of trade deficit. If tariffs are increased, the long-run effect is most likely to be:

• A)​a decrease in both U.S.imports and exports.
• B)​an increase in both U.S.imports and exports.
• C)​an decrease in U.S.imports, and an increase in U.S.exports.
• D)​an increase in U.S.imports, and a decrease in U.S.exports.

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Definitions:

Fiber

A type of material used in telecommunications that transmits light to carry information over long distances.

Dematerialization

The process of reducing the use of physical resources in the production and distribution of goods and services, often through digitalization.

Materialization

In computing, it refers to the process of bringing virtual or logical data into physical form, often in the context of database systems.

Pervasiveness

The state or quality of being widespread throughout an area or a group of people, often referring to technology or cultural phenomena.