• 2022-05-27
    If a good is imported into (large) country H from country F, then the imposition of a tariff in country H __________.
    A: raises the price of the good in both countries (the "Law of One Price").
    B: raises the price in country H and cannot affect its price in country F.
    C: lowers the price of the good in both countries.
    D: raises the price of the good in H and lowers it in F.
  • D

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    • 0

      Good A and good B are substitutes in production. The demand for good A decreases, which lowers the price of good A. The decrease in the price of good A ( ) A: decreases the supply of good B: increases the supply of good C: decreases the demand for good D: increases the demand for good

    • 1

      When does a country become an importer of anarticle? A: when the domestic price of an article in a countryis lower than its world price B: When the domestic priceof a country's goods is higher than its world price

    • 2

      Some American people thought that ______. A: the government sometimes did things in favor of big corporations B: the country's industry was growing too rapidly C: shops should have the same price for the same kind of goods D: their country's wealth was both good and bad to the people

    • 3

      Trade between two countries can benefit both countries if() A: each country exports that good in which it has comparative advantage. B: each country enjoys superior terms of trade. C: each country has a more elastic demand for imported goods. D: each country has a more elastic supply for the exported goods.

    • 4

      If the price elasticity of demand for a good is 1; then doubling the price of that good will leave total expenditures on that good unchanged