Howard believes that there should be no trade restrictions for any reason. What would Howard say are the negative consequences of trade restrictions?
A) lower tariffs
B) lower prices
C) more consumer choice
D) higher prices

Question

Quizplus · Accepted Answer

Howard would argue that trade restrictions, such as tariffs or quotas, would lead to higher prices for consumers. By restricting imports, domestic producers have less competition and can charge higher prices for their products. This lack of competition also limits consumer choice and may lead to lower quality goods since domestic producers do not have to compete on price or quality with foreign producers. Therefore, Howard would argue that allowing free trade would lead to lower prices, more consumer choice, and potentially higher quality goods.

Howard Believes That There Should Be No Trade Restrictions for Any