When a Tariff on a Product Is Removed, It Will

question 92

Multiple Choice

When a tariff on a product is removed, it will result in a(n) :

• A)decrease in the supply of a product and a higher price.
• B)increase in the supply of the product and a higher price.
• C)increase in the supply of the product and a lower price.
• D)decrease in the supply of the product and a lower price.

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Definitions:

Long-range Plans

Long-range plans are strategic frameworks that outline an organization's goals and objectives over an extended period, often spanning several years into the future.

Committee

A group of individuals designated to perform a specific task or to deliberate on a particular issue within an organization.

Organizational Structure

Describes the way in which a company or organization is arranged, including the roles, responsibilities, and communication methods between members.

Entire Group

The whole set or total number of individuals within a defined category or team, without exclusion.