Question: Assume that the U.S. is expected to impose a small tariff on goods imported from Country P. At the same time, Country P is not
Assume that the U.S. is expected to impose a small tariff on goods imported from Country P. At the same time, Country P is not expected to retaliate by imposing extra tariff on goods imported from U.S.. Other things being equal, this should ____________ U.S. demand for krank, ______________ supply of krank for sale, and ________________ the equilibrium value of krank. A. not affect, decrease, increase B. increase, not affect, decrease C. decrease, increase, decrease D. not affect, increase, decrease E. decrease, not affect, decrease
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