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U.S. tariff angers French Just days before Obama took​ office, the United States raised the tariff...

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Economics

U.S. tariff angers French Just days before Obama took​ office, the United States raised the tariff on imports of French​ sheep's-milk cheese to​ 300% from ​100%long dash—with the hope that the domestic price will be so high that imports of the cheese will cease.    ​Source: The Guardian​, January​ 17, 2009 Explain how this tariff influences the price that U.S. consumers pay for​ sheep's-milk cheese, the quantity of​ sheep's-milk cheese produced in the United​ States, and the effect of the tariff on U.S. gains from trade with France. ​Who, in the United​ States, gains from the tariff and who​ loses? Question content area bottom Part 1 The increase in the tariff​ _____ the price that U.S. consumers pay for​ sheep's milk​ cheese, and​ _____ the quantity of​ sheep's milk cheese produced in the United States.    A. ​lowers; increases B. ​raises; does not change C. ​lowers; decreases D. ​raises; increases E. ​raises; decreases

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