A Country Can Impose a Tariff to Improve Its Own

question 61

Multiple Choice

A country can impose a tariff to improve its own terms of trade if it

• A)constitutes a large fraction of the world demand for some commodity that it imports.
• B)has a high level of industrial diversification.
• C)has a significant trade surplus.
• D)imports mostly primary products.
• E)produces and exports a large fraction of the world's supply of some commodity.

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Definitions:

Intrapreneurship

The practice of applying entrepreneurial skills and approaches within an existing organization to drive innovation and strategic growth.

Planning

The process of making plans for something, including setting goals, defining steps, and allocating resources.

Action

The process or act of doing something towards achieving a goal or resolving a problem.

Entrepreneurship

Engaging in the creation of a business or multiple businesses, undertaking economic risks in anticipation of making a profit.