Multiple Choice
When can a country gain a price advantage on imports by imposing a tariff?
A) When it is the largest country with absolute advantage in all goods
B) When it has a comparative advantage in the production of all goods
C) When it can do so without other countries retaliating with tariffs
D) When trade agreements prohibit quotas but permit tariffs
Correct Answer:
Verified
Correct Answer:
Verified
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