After the United States introduces a tariff in the market for widgets, the price of widgets in the United States will:

Name: After the United States introduces a tariff in the market for widgets, the price of widgets in the United States will:
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Question

Quizplus · Accepted Answer

When a tariff is introduced, it increases the cost of importing goods, which ultimately leads to an increase in the price of the product for the domestic consumers. Hence, the price of widgets in the United States will increase.

After the United States Introduces a Tariff in the Market