Which of the following is true about the cost of protectionism?

Question

Quizplus · Accepted Answer

The cost of protectionism is ultimately borne by consumers. When a country imposes tariffs or other trade barriers to protect domestic industries, it raises the price of imported goods, making them more expensive for consumers. This is often done to protect domestic jobs and industries, but it can end up hurting consumers by making them pay more for goods. While organized consumer groups may be involved in some cases, the ultimate cost of protectionism falls on individual consumers who have to pay higher prices.

Which of the Following Is True About the Cost of Protectionism