When a Government Increases the Cost of International Trade, It

question 89

Multiple Choice

When a government increases the cost of international trade, it is:

• A) helping domestic consumers.
• B) hurting all domestic producers.
• C) reducing the total amount of output available to domestic consumers.
• D) keeping all domestic prices artificially low.

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Definitions:

Implied Warranty

An unwritten guarantee that the product sold will meet a minimum level of quality.

Habitability

The suitability of a living space being safe and comfortable enough for human occupancy.

Assign

To transfer rights or duties under a contract or legal agreement to another party.

Silent

Characterized by the absence of sound or the decision not to speak or disclose information.