When a Country Imposes a Per-Unit Tariff on an Imported

question 103

Multiple Choice

When a country imposes a per-unit tariff on an imported good or service,_____.

• A)the price that domestic consumers pay for the import falls
• B)the quantity of the good or service imported into the country declines
• C)the quantity of the good or service imported into the country increases
• D)the price at which any supplier can sell output in the world market decreases
• E)the quantity of the good or service demanded by the consumers increases

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Definitions:

Farm Policies

Government rules and programs designed to support farmers, influence agricultural production, stabilize prices, and ensure food security.

Economic Problem

The issue of limited resources with unlimited wants, necessitating choices about what and how to produce for society.

Crop Insurance Programs

Governmental or private insurance schemes designed to protect farmers against the financial losses due to crop failures caused by weather or other unforeseen factors.

Agricultural Act

Legislation aimed at regulating agricultural markets, prices, and subsidies; specifics depend on the country and the time period.