What is the immediate effect of increasing tariffs in a country on its economy?
A) It increases the volume of trade.
B) It reduces the volume of imports.
C) It increases the volume of exports.
D) It promotes better trade relations with other countries.
Correct Answer:
Verified
Q73: What is an import quota?
A) a limit
Q74: What was the short-lived import tariff enacted
Q75: What is an import tariff?
A) a limit
Q76: Other nations responded to the Smoot-Hawley tariff
Q77: One factor mentioned in the text as
Q79: If we measure the ratio of total
Q80: By 2012, the average worldwide tariff had
Q81: The article "A Sea Change in Shipping
Q82: Which of the following is an example
Q83: What was the 1956 invention that increased
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