A tariff is imposed on a good. This will _ _ quantity supplied, quantity demanded, and _ price in the home country.

Name: A tariff is imposed on a good. This will _ _ quantity supplied, quantity demanded, and _ price in the home country.
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Question

Quizplus · Accepted Answer

A tariff increases the price of imported goods, leading to a decrease in quantity demanded and an increase in quantity supplied domestically, resulting in an overall increase in price in the home country.

A Tariff Is Imposed on a Good