If a tariff is imposed, the price paid by domestic consumers will_________ and the amount imported will _________.

Question

Quizplus · Accepted Answer

When a tariff is imposed, the price paid by domestic consumers will increase because the imported goods become more expensive due to the tariff. Furthermore, the amount imported will decrease because the cost of importing the goods has increased with the additional tariff, so people opt to buy less of the imported goods.

If a Tariff Is Imposed, the Price Paid by Domestic