When a tariff is removed from an imported product, which of the following will occur?
A. The demand curve for the imported product will shift to the right.
B. The level of imports will fall.
C. The supply curve for the imported product will shift to the left.
D. The price paid by consumers will fall.
Answer: D
Economics
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Refer to Table 9-11. If the actual terms of trade are 1 hat for 1.8 clocks and 150 hats are traded, how many hats will Denmark gain compared to the "without trade" numbers?
A) -150 B) 0 C) 150 D) 1,050
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Discounting involves dividing next-period income by ________
A) one plus the real rate of interest B) the nominal rate of interest C) current income D) the real rate of interest
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