A Tariff on a Particular Good Does Which of the Following

question 15

Multiple Choice

A tariff on a particular good does which of the following?

• A)​It increases the net-of-tariff price received by foreign producers.
• B)​It increases the price of the good to domestic consumers.
• C)​It redistributes income away from domestic producers toward domestic consumers.
• D)​none of the above

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Definitions:

Core Business

The primary area of a company's operation or the main source of its profitability, representing its fundamental mission or the key focus of its commercial activity.

Noncore Business

Parts of a company's operations that are not essential to its main line of business or primary revenue source.

Accounting

The practice of recording, classifying, and summarizing financial transactions to provide useful financial information for decision-making.

Production

The process of creating goods and services using labor, machinery, and resources to meet consumer demand.