Other things equal, economists would prefer

Name: Other things equal, economists would prefer
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Economists generally support free trade because it leads to higher efficiency and consumer welfare. Tariffs are seen as less desirable than free trade because they create deadweight losses in the economy. However, tariffs are preferred over import quotas because quotas can lead to smuggling and rent-seeking behavior. So, the economists' preference order is free trade > tariffs > import quotas.

Other Things Equal, Economists Would Prefer