Asked by Jackson Boone on Jul 11, 2024
Verified
A tariff on French perfume will ____ the price of perfume in the U.S.and ____ the quantity purchased.
Tariff
A tax imposed by a government on goods and services imported from other countries, often used to protect domestic industries.
Perfume
A fragrant liquid typically made from essential oils or aroma compounds, used to give a pleasant scent to a person's body.
Quantity
signifies the amount or number of a material or immaterial good considered as a unit or total.
- Understand the effects of a tariff on the price and quantity of imported goods.
Verified Answer
NV
Learning Objectives
- Understand the effects of a tariff on the price and quantity of imported goods.