Evidence indicates that tariffs and quotas are

Question

Quizplus · Accepted Answer

Tariffs and quotas protect domestic producers by limiting foreign competition, which allows them to charge higher prices for their goods. However, this comes at the expense of consumers who have to pay more for the same product. Additionally, it may not necessarily benefit workers in the industry, as the higher prices may result in lower demand for the product, leading to job losses. Therefore, tariffs and quotas are beneficial for producers in a protected industry, but not beneficial for consumers or workers.

Evidence Indicates That Tariffs and Quotas Are