A tariff lowers the price of the imported good below the world price. lowers the price of the exported good below the world price. raises the price of the imported good above the world price. keeps the price of the exported good the same as the world price.

A tariff lowers the price of the imported good below the world price. lowers the price of the exported good below the world price. raises the price of the imported good above the world price. keeps the price of the exported good the same as the world price.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter18: International Trade And Finance

Section: Chapter Questions

Problem 7SQ

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A tariff

lowers the price of the imported good below the world price.

lowers the price of the exported good below the world price.

raises the price of the imported good above the world price.

keeps the price of the exported good the same as the world price.

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