Economists consider tariffs to be
A) necessary for the protection of domestic industries and the achievement of full employment.
B) harmful to domestic consumers.
C) obstacles that hinder voluntary exchange and gains from trade.
D) both b and c above

Question

Quizplus · Accepted Answer

Tariffs are generally seen as harmful to domestic consumers because they increase the prices of imported goods. They also act as obstacles to voluntary exchange and can reduce the overall gains from trade by limiting the efficiency and benefits of international trade.

Economists Consider Tariffs to Be