__________ are the oldest and simplest instrument of trade policy.

Question

Quizplus · Accepted Answer

Tariffs are taxes on imports, making them more expensive and less competitive in the domestic market. They are one of the oldest and simplest forms of trade policy, used to protect domestic industries and generate revenue for the government. The other options, such as subsidies, administrative policies, voluntary export restraints, and price discrimination, are more complex and varied in their application.

__________ Are the Oldest and Simplest Instrument of Trade Policy