What is a TRUE statement concerning the imposition in the U.S. of a tariff on cheese?
A) It lowers the price of cheese domestically.
B) It raises the price of cheese internationally.
C) It raises revenue for the government.
D) It will always result in retaliation from abroad.
E) it leads to higher domestic demand for cheese.
C
Economics
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For which of the following goods is the income elasticity of demand likely lowest?
a. water b. sapphire pendant necklaces c. filet mignon steaks d. fresh fruit
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When banks offer checking accounts, they are issuing a(n):
A. financial asset that cannot function as money. B. financial liability. C. financial asset that functions as money. D. IOU.
Economics