What is a TRUE statement concerning the imposition in the U.S.of a tariff on cheese?
A)It lowers the price of cheese domestically.
B)It raises revenue for the government.
C)It raises the price of cheese internationally.
D)It leads to higher domestic demand for cheese.
E)It will always result in retaliation from abroad.

Question

Quizplus · Accepted Answer

A tariff on cheese raises revenue for the government by imposing a tax on imported cheese, which importers must pay.

What Is a TRUE Statement Concerning the Imposition in the U.S.of