题目内容
If the world price of a good is greater than the domestic price in a country that can engage in international trade, then that country becomes an importer of that good.
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Without free trade, the domestic price of a good must be equal to the world price of a good.
If a tariff is placed on watches, the price of both domestic and imported watches will rise by the amount of the tariff.
When a government imposes a tariff on a product, the domestic price will equal the world price.
Import quotas and tariffs both cause the quantity of imports to fall.
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