The U.S. government is considering implementing a tariff on processed vegetables imported from India. Assuming that the U.S. is an importer of processed vegetables, which of the following correctly explains the impact on the U.S. market?(1 point)
Responses
The quantity of processed vegetables demanded will fall since the tariff will lower the domestic market price below the world price.
The quantity of processed vegetables demanded will fall since the tariff will lower the domestic market price below the world price.
The quantity of processed vegetables demanded will rise since the tariff will lower the domestic market price below the world price.
The quantity of processed vegetables demanded will rise since the tariff will lower the domestic market price below the world price.
The quantity of processed vegetables demanded will rise since the tariff will raise the domestic market price above the world price.
The quantity of processed vegetables demanded will rise since the tariff will raise the domestic market price above the world price.
The quantity of processed vegetables demanded will fall since the tariff will raise the domestic market price above the world price.
The quantity of processed vegetables demanded will fall since the tariff will raise the domestic market price above the world price.
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