Tariffs ________ prices for domestic consumers and import quotas ________ prices for domestic consumers.

Question

Quizplus · Accepted Answer

Tariffs and import quotas both increase the cost of imported goods. This leads to higher prices for domestic consumers as the cost of imports rises, making imported goods more expensive and potentially increasing the demand for domestically produced alternatives, which can also become more expensive due to reduced competition.

Tariffs ________ Prices for Domestic Consumers and Import Quotas ________

Tariffs Prices for Domestic Consumers and Import Quotas