Solved

If a Nation Imposes Tariffs and Quotas on Foreign Products

Question 120

Multiple Choice

If a nation imposes tariffs and quotas on foreign products, the immediate effect, if no retaliation is immediately imposed by other countries will be to:


A) reduce the rate of domestic inflation.
B) increase efficiency in the world economy.
C) increase domestic output and employment.
D) reduce domestic output and employment.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q44: A $1 increase in government spending on

Q115: If unplanned investment in business inventories occurs,

Q116: C = 40 + .8Y _<br>I<sub>g</sub> =

Q117: In which of the following situations for

Q118: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6686/.jpg" alt=" The equilibrium level

Q119: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6686/.jpg" alt=" Refer to the

Q122: The letters Y, C, S, and I

Q123: Refer to the diagram below.The multiplier in

Q124: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6686/.jpg" alt=" Refer to the

Q125: If at some level of GDP the