If the United States imposes a tariff on $1 per imported shirt, the tariff will
A) raise the price of a shirt to U.S. consumers.
B) benefit U.S. shirt producers.
C) decrease imports of shirts into the United States.
D) all of the above
D
You might also like to view...
Firm X's total fixed costs are $1,000. Its total variable costs of producing 100 units are $2,000, and its total variable costs of producing 200 units are $4,000. Which of the following will happen to firm X's average costs as it increases output from 100 to 200 units?
a. Average costs increase. b. Average costs decrease. c. Average costs remain constant. d. Average costs increase slightly.
Proponents of ISI assumed that governments
A) were capable of identifying and correcting market failures. B) were capable of identifying and correcting the excesses of economic populists. C) should enact orthodox stabilization plans. D) could control the terms of trade. E) Both A and D.