The Imposition of a Tariff on Widgets by the U

question 53

Multiple Choice

The imposition of a tariff on widgets by the U.S. government is likely to:

• A)increase the consumer surplus for domestic consumers.
• B)result in higher prices and revenues to foreign producers
• C)result in higher prices and revenues to foreign producers.
• D)increase the quantity of widgets demanded.
• E)decrease the total quantity of widgets sold.