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Loraine Loraine
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9 years ago
If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affected?
A) The quantity of chocolate they sell decreases because U.S. consumption of chocolate decreases.
B) The quantity of chocolate they produce increases.
C) The price at which they sell their chocolate falls.
D) They are harmed because foreign exporters of chocolate increase their supply in response to the higher price.
E) They are unaffected because the quota applies to foreign producers, not to U.S. producers.
Textbook 
Essential Foundations of Economics

Essential Foundations of Economics


Edition: 7th
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.

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