A Tariff on a Good When the World Price Is

question 9

Multiple Choice

A tariff on a good when the world price is lower than the domestic price leads to:

• A) tariff revenues that will be lower than under free trade.
• B) domestic imports that will be higher than under free trade.
• C) lower domestic consumption of the good than under free trade.
• D) lower domestic production of the good than under free trade.

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Definitions:

Paid Disproportionately

A situation where compensation does not match the effort, skill level, or responsibility held.

Work-Family Conflict

A form of tension occurring when the demands of work and family roles are incompatible in some respect.

Demands

The requirements or needs that must be met or fulfilled in various contexts, such as job responsibilities or market expectations.

Personal Life

The aspect of an individual's life that involves their personal interests, family, and non-professional activities.