Suppose that Tonga, a small country, imports apples at the world price of $4 per kilogram.If Tonga imposes a tariff of $1 per kilogram on imported apples, the price of apples in Tonga will increase, but by less than $1, ceteris paribus.
Correct Answer:
Verified
Q8: If Peru exports coffee to the rest
Q10: Since losers from international trade are always
Q11: If Colombia exports coffee to the rest
Q12: France imports a lot of snow peas
Q14: A tariff decreases the quantity of imports.
Q15: If Australia imports toys from other countries,
Q16: A country is likely to import a
Q18: In general, importing will always increase the
Q23: When a government imposes a tariff on
Q152: If the domestic price of a good
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents