The imposition of a tariff causes consumption to _____ and imports to _________?

Related Mcqs:

International trade forces domestic firms to become more competitive in terms of ?

A. The introduction of new products B. Product design and quality C. Product price D. All of the above...

In a floating exchange rate system ?

A. The government intervenes to influence the exchange rate B. The exchange rate should adjust to equate the supply and demand of the currency C. The Balance of payments should always be in surplus D. The Balance of payments will always equal the government budget...

If there is a balance of payments deficit then in a floating exchange rate system ?

A. The external value of the currency would tend to fall B. The external value of the currency would tend to rise C. The injections from trade are greater then the withdrawals D. Aggregate demand is increasing...

A sudden shift from import tariffs to free trade may induce short-term unemployment in ?

A. Import-competing industries B. Industries that are only exporters C. Industries that sell domestically as well as export D. industries that neither import nor export...

If goods are exported for less than society’s marginal production cost and the marginal benefit to domestic consumers, it is likely that they benefit from?

A. an import subsidy B. a quota C. comparative advantage D. an export subsidy...