Which of the following statements about a tariff is true?
A) It limits the quantity of products imported into an economy.
B) It increases the sales of products from abroad in a country.
C) It is a tax on foreign products.
D) It occurs in a free trade area.
Correct Answer:
Verified
Q1: Measures to restrict imports into a country
Q2: A limit on the number of imports
Q3: Complete the sentence. In a customs union…
A)
Q5: What does it mean if a country
Q6: The opportunity cost of 1X in country
Q7: An increase in the exchange rate increases
Q8: Reasons for protectionism do NOT include
A) Protecting
Q9: The principle of comparative advantage is based
Q10: Comparative advantage is based on the principle
Q11: If a country can produce 300 units
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