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When a small country imposes an import tariff, world prices fall because less is demanded. Select one: True False

Principles of Microeconomics

7th Edition

ISBN:9781305156050

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 4CQQ

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37)When a small country imposes an import tariff, world prices fall because less is demanded.

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False

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