Protective tariffs raise the price of foreign goods to allow expensive domestic goods to compete with foreign ones.

Name: Protective tariffs raise the price of foreign goods to allow expensive domestic goods to compete with foreign ones.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Protective tariffs are taxes imposed on imported goods to make them more expensive, thereby allowing domestically produced goods, which might be more expensive to produce, to compete more effectively in the domestic market.

Protective Tariffs Raise the Price of Foreign Goods to Allow