Which of the Following Is NOT an Effect of an Import

question 180

Multiple Choice

Which of the following is NOT an effect of an import tariff?

• A) It increases producer surplus by raising the market price and allowing more production.
• B) It raises government revenue.
• C) It reduces consumer surplus by raising the market price.
• D) It improves efficiency in the economy overall because it saves high-paying jobs.

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Definitions:

Financial Statements

Compiled financial data from a company, including the income statement, balance sheet, statement of cash flows, and statement of changes in equity, providing insight into its financial health.

Accounts Receivable

Liabilities of clients to a company for received goods or services awaiting payment.

Current Liabilities

Financial obligations of a business that are due and payable within one year, including accounts payable, short-term loans, and taxes payable.

Financial Statements

Documents that summarize an organization's financial activities, offering insights into its revenue, expenses, and equity.