If a tariff is imposed on imports of shrimp into the United States, U.S. consumers ________ and the U.S. economy will ________

Not all state and local taxes are deductible at the federal level

a. True b. False

If a nation's exports are $55 billion, while its imports are $50 billion, we can conclude with certainty that this nation is experiencing a

A. balance of trade surplus. B. balance of payments surplus. C. positive balance on current account. D. positive balance on capital account.