A Tariff Disrupts the Workings of the Law of One

question 89

Multiple Choice

A tariff disrupts the workings of the law of one price because tariffs:

• A)Are standardized by GATT
• B)Are taxes on imports and can vary across products and countries
• C)Apply only to goods countries export
• D)Are only applied to commodity products

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Definitions:

Hippocampus

A region of the brain involved in the formation of new memories and is associated with learning and emotions.

Agonists

Chemicals that bind to and activate specific receptors in the body, mimicking the effects of natural substances.

Antagonists

Substances or drugs that block or dampen the action of neurotransmitters or hormones, reducing their effects on the body.

Psychoactive Drugs

Psychoactive drugs are substances that affect the brain and change perception, mood, consciousness, cognition, or behavior.