According to the author of the textbook,tariffs are __________ and __________.

Question

Quizplus · Accepted Answer

Tariffs are taxes placed on imported goods, which increase the price of foreign goods and make domestically produced goods relatively more attractive. This benefits domestic producers who can charge higher prices and potentially increase their profits. However, it ultimately harms consumers who have to pay more for goods, potentially reducing their purchasing power and standard of living. Therefore, tariffs are pro-producer and anti-consumer.

According to the Author of the Textbook,tariffs Are __________ and __________

According to the Author of the Textbook,tariffs Are and