Multiple Choice
If a nation imposes a tariff on an imported product, then the nation will experience a(n)
A) decrease in total supply and an increase in the price of the product.
B) decrease in demand and a decrease in the price of the product.
C) decrease in supply of, and an increase in demand for, the product.
D) increase in supply of, and a decrease in demand for, the product.
Correct Answer:
Verified
Correct Answer:
Verified
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