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 the price of cheese internationally.
C) It raises revenue for the government.
D) It will always result in retaliation from abroad.
E) it leads to higher domestic demand for cheese.

Question

Quizplus · Accepted Answer

A tariff on cheese increases the price of imported cheese, leading to higher domestic prices, and generates revenue for the government through the tariff collected on imports.

What Is a True Statement Concerning the Imposition in the U.S