When the United States imports goods from the rest of the world,which of the following parties is harmed?
i.domestic producers of the good
ii.domestic consumers of the good
iii.foreign producers of the good

Question

Quizplus · Accepted Answer

When the United States imports goods from the rest of the world, domestic producers of the goods are harmed because they face more competition, which can lead to a decrease in market share, lower profits, and potential layoffs. Domestic consumers of the good benefit from lower prices due to the availability of cheaper imports. Foreign producers of the good benefit from increased demand and access to new markets. However, since the question specifically asks about parties that are harmed, the only option that fits the criteria is i) domestic producers of the good.

When the United States Imports Goods from the Rest of the World,which