If the United States increases the tariff on imported salmon, this will

A. increase the amount of salmon imported in the United States and reduce the production of salmon in the United States.
B. reduce the amount of salmon imported into the United States and reduce production of salmon in the United States.
C. increase the amount of salmon imported in the United States and increase the production of salmon in the United States.
D. reduce the amount of salmon imported in the United States and increase the production of salmon in the United States.


Answer: D

Economics

You might also like to view...

If everyone has identical preferences over public goods, Lindahl prices for providing the efficient level of the public good will be the same for everyone.

Answer the following statement true (T) or false (F)

Economics

In an unregulated, competitive market we could calculate consumer surplus if we knew the equations representing supply and demand. For this problem assume that supply and demand are as follows: Supply P = 4 + 0.116Q Demand P = 25 - 0

10Q, where P represents unit price in dollars and Q represents number of units sold each year. Calculate the annual value of aggregate consumer surplus.

Economics

If consumer purchases of a good are highly sensitive to the price of the good, economists say the demand for the good is relatively

a. inelastic. b. elastic. c. robust. d. inverse.

Economics

If Allan lives in Boston and decides to buy a pair of hockey skates from Canada for $100, and the Canadian he bought them from buys a baseball hat and jersey for $100 from Boston, then the U.S. next exports:

A. and net capital outflow both equal ?$100. B. and net capital outflow are both zero. C. is zero and net capital outflow is ?$100. D. equals ?$100 and net capital outflow is zero.

Economics