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19. (02.09 MC) What will happen to an economy that produces and imports(not exports) a good if an import tariff is removed? (2 points) There
19.
(02.09 MC) What will happen to an economy that produces and imports(not exports) a good if an import tariff is removed? (2 points)
There will be a decrease in consumer surplus for domestic consumers. | |
Domestic producer surplus will increase. | |
The domestic consumption of the good will increase. | |
Both domestic production and imports will increase. | |
There will be some deadweight loss. |
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