If a Tariff Is Imposed on an Imported Good

question 118

Multiple Choice

If a tariff is imposed on an imported good:

• A) the government imposing the tariff collects the revenue.
• B) the government exporting the tariff pays the tariff.
• C) consumers are not affected.
• D) consumers pay lower prices.

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Definitions:

Vague

Describing something that is unclear, undefined, or not precise in meaning or details.

Venture Capital Funds

Pools of capital that are allocated to invest in high-growth potential startups and emerging companies.

General Partners

Individuals who participate in the management of a partnership and have unlimited personal liability for the debts and obligations of the partnership.

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Investors in a partnership who are only liable for the debts or losses of the business up to the amount they have invested, without involvement in day-to-day management.