When a Tariff Is Imposed, There Is Always an Additional

question 163

Multiple Choice

When a tariff is imposed, there is always an additional loss. One loss occurs when consumers purchase fewer units of the good because prices have risen, so society loses the value of that consumption. This loss is the:

• A) consumption loss.
• B) efficiency transfer.
• C) production loss.
• D) X-factor.

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Definitions:

Parental Supervision

Involves monitoring and guiding children's activities, ensuring their safety and proper upbringing.

Superego

In Freudian psychoanalysis, the part of the personality that acts as a moral center, guiding behavior by internalizing societal and parental standards of right and wrong.

Preconscious Mind

Part of the mind that contains information not currently in consciousness but can be easily accessed and brought into awareness.

Id

In psychoanalytic theory, the part of the psyche that is the source of instinctual impulses and demands for immediate satisfaction of basic needs.