A tariff
A) is a tax imposed on imported goods.
B) is a tax imposed on exported goods.
C) encourages worldwide specialization according to the principle of comparative advantage.
D) has no effect on prices paid by domestic consumers even though it increases the revenue collected by domestic producers.
Correct Answer:
Verified
Q33: _ gains from imports and _ gains
Q34: A tariff is
A) a licensing regulation that
Q35: Tariffs and import quotas differ in that
A)
Q36: Compared to the situation before international trade,
Q37: A major purpose of tariffs is to
A)
Q39: Because the price of an imported good
Q40: Because the price of an exported good
Q41: A tariff _ the quantity of the
Q42: If the United States imposes a tariff
Q43: Increasing a tariff will _ the domestic
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