A Tariff

question 121

Multiple Choice

A tariff

• A) is a tax imposed on imported goods.
• B) is a tax imposed on exported goods.
• C) encourages worldwide specialization according to the principle of comparative advantage.
• D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by domestic producers.

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Definitions:

Precipitation

Any type of water, whether in liquid or solid state, that descends from clouds and makes contact with the Earth's surface, encompassing rain, snow, sleet, and hail.

Solar Energy

1. Electromagnetic energy from the Sun. 2. Energy that uses the Sun’s electromagnetic energy to heat buildings, heat water, or generate electricity.

Internal Heat

Heat produced within a planetary body, originating from radioactive decay and residual heat from planetary formation.

Gravity

The force that attracts two bodies toward each other, giving weight to physical objects and keeping planets in orbit around stars.