A Tariff Is Always a Flat Rate Per Unit

question 32

True/False

A tariff is always a flat rate per unit.

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Definitions:

Discouraged Workers

People who have stopped looking for employment due to a belief that their job search efforts will not yield success.

Cyclically Unemployed

Individuals who have lost their jobs due to downturns in the business cycle or economic recessions, as opposed to structural factors.

Price Index

An index number that shows how the weighted average price of a market basket of goods changes through time.

Market Basket

A selected set of goods and services used to track changes in prices and inflation over time.