When a Tariff on a Product Is Removed, It Will

question 92

Multiple Choice

When a tariff on a product is removed, it will result in a(n) :

• A)decrease in the supply of a product and a higher price.
• B)increase in the supply of the product and a higher price.
• C)increase in the supply of the product and a lower price.
• D)decrease in the supply of the product and a lower price.

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Definitions:

Public Ledger

A ledger available to the public that records all transactions in a network, commonly associated with blockchain technology.

Codec

A device or program that compresses data to enable faster transmission and decompresses received data.

MPEG-4

A method of defining compression of audio and visual (AV) digital data, introduced to provide improved multimedia capabilities.

Ripping

The process of extracting data or media from one format, such as a CD or DVD, to a hard drive, often in a different format.