Refer to the scenario above. Recently, the government has imposed a tariff on the import of some cash crops. Which of the following is likely to happen in this case?

A) The domestic consumers of these crops will be better off.
B) The government's revenue is expected to fall.
C) The volume of imports is likely to increase.
D) The domestic producers of these crops will be better off.

D

Economics

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What is the diamond-water paradox?

What will be an ideal response?

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If the consumption function is given by C = 100 + .6(Y-T) and planned investment is 150, government spending is 50, and T is 100, then equilibrium income is

a. 600 b. 750 c. 400 d. 350

Economics