Answer: D) removal of the tariff would cause domestic output to fall even further and the price to fall to consumers.
Suppose an industry receives protection from the government in the form of tariffs
A number of years later, it is observed that the quantity supplied by domestic firms had decreased and that the domestic price was substantially greater than the world price. We could conclude that A) the tariff had been imposed to counteract dumping and had been successful.
B) removal of the tariff would actually cause domestic output to increase and price to fall.
C) the tariff had been imposed to protect an infant industry and that the industry still needed protection.
D) removal of the tariff would cause domestic output to fall even further and the price to fall to consumers.
Economics
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Answer the following statement(s) true (T) or false (F)
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In the long run, ________ dominate exchange rate movements
A) short-run inflation differentials B) long-run inflation differentials C) short-run relative price changes D) All of the above
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Until 1987, the primary role of the federal government with regard to public health was _____
a. to regulate the interstate movements of physicians b. to regulate medicines to ensure a minimal level of quality c. to control epidemics through the control and quarantine of ports of entry d. to pay for the health care of the indigent
Economics
Universal child support assurance would cost little more than the present system
Indicate whether the statement is true or false
Economics