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Aysha Ghanawi
on Oct 25, 2024

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If a country imposes a tariff on imported shoes,we expect the domestic price of shoes to _____ and the quantity of shoes consumed in the domestic market to _____.

A) fall;fall
B) fall;rise
C) rise;fall
D) rise;rise

Domestic Price

The price of goods or services within a country's own market, as opposed to international or export prices.

Imported Shoes

Footwear that is produced in one country and then brought into another country for sale, often reflecting differences in fashion, quality, or price.

Domestic Market

The supply and demand for goods and services within a single country.

  • Appraise the implications of tariffs and several trade restrictions on domestic trading arenas.
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KM
Kevontae McDonaldOct 26, 2024
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