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If Germany (which is a large country) imposes an import tariff on textile imports, we can conclude that: (a)The world price of textile rises, and
If Germany (which is a large country) imposes an import tariff on textile imports, we can conclude that:
- (a)The world price of textile rises, and Germany imports less.
- (b)The world price of textile stays constant, and Germany imports less.
- (c)The world price of textile falls, and Germany imports less.
- (d)The world price of textile stays constant, and Germany imports the same as before.
Explain your answer clearly.
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