Chris Barker quiz 9

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A tax on imported good is called a

tariff

What is a fundamental basis for trade among nations

Comparative advantage

The imposition of a tariff of roses

Decreases the number of roses imported by 200

With trade and without a tariff

The domestic price is equal to the world price

When a country allows trade and becomes an export of silk, which of the following is not a consequence

The price paid by domestic consumers of silk decreases

When a country allows trade and becomes an important of silk, which of the following is not a consequence

The price received by domestic production of silk increases


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