As a Result of a Tariff on Imports, Consumers in the Importing

question 140

Multiple Choice

As a result of a tariff on imports, consumers in the importing country

• A)purchase more domestically produced goods and fewer foreign goods, resulting in the consumption of fewer total goods than without the tariff
• B)purchase more domestically produced goods and fewer foreign goods, resulting in the consumption of more total goods than without the tariff
• C)purchase more domestically produced goods and more foreign goods, resulting in the consumption of fewer total goods than without the tariff
• D)purchase fewer domestically produced goods and fewer foreign goods, resulting in the consumption of more total goods than without the tariff
• E)cease importing any goods at all

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Definitions:

Predictive Analytics

A type of business analytics that examines recent and historical data in order to detect patterns and predict future outcomes and trends.

Descriptive Analytics

A type of business analytics that summarize what has happened in the past and allow decision makers to learn from past behaviors.

Deep Analysis

Entails an exhaustive examination and evaluation of data or a situation to gain comprehensive insights and understand complex issues.

Merchandising Databases

Databases specifically designed to support retail activities by storing and managing data related to inventory, sales, and customer interactions.