Which of the following is a change in the ratio of international prices of a large country’s exports to the international price of the large country’s imports resulting from the imposition of a tariff in the country?
A. one-dollar, one-vote metric
B. production effect
C. consumption effect
D. terms-of-trade effect
Answer:D
Which of the following is a change in the ratio of international prices of a large country’s exports to the international price of the large country’s imports resulting from the imposition of a tariff in the country?
A. one-dollar, one-vote metric B. production effect C. consumption effect D. terms-of-trade effect