The Long-Run Effect of Tariffs Is

question 109

Multiple Choice

The long-run effect of tariffs is:

• A)an increase in domestic employment.
• B)an increase in export businesses.
• C)a reallocation of domestic workers from export industries to protected domestic industries.
• D)a reallocation of consumer spending to imported products over domestically-produced products.

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Definitions:

Dangerous Situation

A scenario that poses a risk of harm or injury to individuals or property.

Theoretical Diversity

The existence and application of multiple theories within a field of study to understand and explain phenomena.

Experience of Emotion

The complex, subjective feeling states that arise from cognitive and physiological reactions to stimuli, often associated with mood, temperament, personality, and motivation.

Subjective Well-being

An individual's personal assessment of their overall happiness and life satisfaction.