Economic benefits to tariffs and import quotas include: more jobs in the protected industry, lower prices to consumers, and increased gains from trade.

Question

Quizplus · Accepted Answer

Tariffs and import quotas often lead to higher prices for consumers and reduced gains from trade due to decreased competition. While they may protect certain industries and jobs, overall economic efficiency and growth may be negatively impacted.

Economic Benefits to Tariffs and Import Quotas Include: More Jobs