Reducing a tariff on a particular good does which of the following?
A) It decreases the price of the domestic good to domestic consumers.
B) It increases the price of the good to domestic consumers.
C) It redistributes income away from domestic producers toward domestic consumers.
D) both (a) and (c)
Correct Answer:
Verified
Q31: Comparative advantage occurs when a person or
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Q33: Reducing existing tariffs on tomatoes would:
A)reduce imports
Q34: Introducing a tariff on vitamin E would:
A)reduce
Q35: Raising an existing tariff on grapes from
Q37: Which of the following is not a
Q38: If Japan does not have a comparative
Q39: A new U.S. tariff on imported steel
Q40: If Japan does not have a comparative
Q41: Imposing a quota on metal softball bats
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