The Most Likely Effects of Tariffs And/or Import Quotas Are

question 260

Multiple Choice

The most likely effects of tariffs and/or import quotas are to _____ prices and to _____ consumption of the protected goods in the importing country.

• A)raise; raise
• B)raise; lower
• C)lower; raise
• D)lower; lower

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Definitions:

Phylum

A rank in the biological classification system, or taxonomy, that is below Kingdom and above Class, grouping organisms based on a shared body plan or other major characteristics.

Phylum

A classification level in the biological taxonomy that ranks above class and below kingdom, used to group organisms that share a common basic structure.

Piagetian Perspective

A theory of cognitive development proposed by Jean Piaget that describes how children construct knowledge through interactions with their environment, emphasizing stages of development.

Accommodation

Piagetian concept of adjusting schemes to fit new information and experiences.