If a Nation Imposes a Tariff on Imports, the Portion

question 155

Multiple Choice

If a nation imposes a tariff on imports, the portion of the tax paid by citizens depends upon

• A)elasticity of demand.
• B)elasticity of supply.
• C)how important the good is.
• D)income elasticity.
• E)cross elasticity of demand with domestic products.

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Definitions:

Structural Mobility

Changes in the economic and social positions of groups within a society due to changes in the society's economy, technology, or structure rather than individual efforts.

Caste Systems

Social stratification systems based on heredity, in which people are placed at birth into unequal groups with specific roles, rights, and duties, prominent in certain cultures.

Apartheid

The system of institutionalized racial segregation and discrimination that existed in South Africa from 1948 until the early 1990s.

Jim Crow Laws

Racial segregation laws enacted in the late 19th and early 20th centuries in the Southern United States, which enforced racial segregation and disenfranchised African Americans.