On a Supply and Demand Diagram, a Tariff Works by

question 16

Multiple Choice

On a supply and demand diagram, a tariff works by

• A)moving the supply curve vertically down by the amount of the tariff.
• B)moving the supply curve vertically up by the amount of the tariff.
• C)limiting the amount that can be sold to a specific amount.
• D)moving the demand curve vertically up by the amount of the tariff.

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Definitions:

Delphi Technique

A method of forecasting and decision-making through rounds of questionnaires sent to a panel of experts, with the aim of reaching a consensus.

Long-Run Qualitative Forecast

A forecasting method that uses expert judgment and other qualitative data to predict long-term trends or outcomes.

Experts Meet

An event or gathering where specialists in a particular field share insights, discuss developments, and solve problems related to their expertise.

Labour Demand Forecasting

The process of estimating the future demand for workers, considering factors such as market trends, industry growth, and technological advancements.