Chapter 9 - Application: International Trade

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Macroeconomics

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4 Terms

1
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tariff
The ________ has no impact on a nation when it becomes an exporter.
2
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domestic quantity
The ________ supplied differs from the ________ demanded.
3
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price of products both
The ________ imported and domestic- rises by the amount of the tariff and is, therefore, closer to the price that would prevail without trade.
4
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tariff
A(n) ________ raises the domestic price of products above the world price.