Which of the following is a likely result of imposing tariffs to increase domestic employment?

Question

Quizplus · Accepted Answer

Imposing tariffs to increase domestic employment may lead to retaliation from foreign nations in the form of their own tariffs, which could harm international trade and potentially lead to a trade war. A decrease in consumer prices is unlikely, as tariffs would make foreign goods more expensive and reduce competition, leading to higher prices. While tariffs may initially increase the number of jobs in some industries, it may also lead to job losses in other industries and overall economic inefficiencies. The tariff rates of foreign nations are unlikely to decrease in response to domestic tariffs.

Which of the Following Is a Likely Result of Imposing