If Slovenia were a large country in world trade, then if it imposes a large set of tariffs on its imports, this must
A) decrease the internal price of imports below the world market rate.
B) cause retaliation on the part of its trade partners.
C) harm Slovenia's real income.
D) improve Slovenia's real income.
E) improve the real income of its trade partners.
A
Economics
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During the Great Depression in the 1930s, the average tariff level in the United States peaked at about
A) zero. B) 6 percent. C) 20 percent. D) 100 percent.
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