What is a tariff? A tax imposed on exported products that lowers the domestic price below the world price. A A tax imposed on exported products that fixes the domestic price equal to the world price. A tax imposed on imported products that lowers the domestic price below the world price. Your answer A tax imposed on imported products that raises the domestic price above the world price. D B
What is a tariff? A tax imposed on exported products that lowers the domestic price below the world price. A A tax imposed on exported products that fixes the domestic price equal to the world price. A tax imposed on imported products that lowers the domestic price below the world price. Your answer A tax imposed on imported products that raises the domestic price above the world price. D B
Chapter1: Making Economics Decisions
Section: Chapter Questions
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What is a tariff?
A tax imposed on exported products
that lowers the domestic price below
the world price.
А
A tax imposed on exported products
that fixes the domestic price equal to
the world price.
В
A tax imposed on imported products
that lowers the domestic price below
the world price.
Your answer
A tax imposed on imported products
that raises the domestic price above
the world price.
Expert Solution

Step 1
Correct : D. A tax imposed on imported products that raises the domestic price above the world price.
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