Multiple Choice
Assume that a country imposes a tariff in order to gain a price advantage on an item.What is the typical response from the exporting country?
A) It accepts the situation and does nothing about it.
B) It seeks greater efficiency in order to offset the tariff.
C) It refuses to sell to the country that imposes the tariff.
D) It retaliates by imposing tariffs or quotas on items from the other country.
Correct Answer:
Verified
Correct Answer:
Verified
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