Senator Blowhard represents a state in which many textile firms are located.He wants to impose tariffs on all imported textiles.Which of the following is the least likely consequence of such tariffs?
A) Domestic textile buyers will lose consumer surplus,have less variety,and will pay higher prices.
B) Domestic textile sellers will gain producer surplus.
C) Domestic textile sellers will have a higher rate of technological advance.
D) Domestic textile sellers will have more market power.
Correct Answer:
Verified
Q2: About what percent of total world trade
Q4: Several arguments for restricting trade have been
Q5: One should be especially wary of the
Q10: Opponents of free trade often want the
Q14: Suppose France subsidizes French wheat farmers,while Germany
Q15: "Owners of firms in young industries should
Q18: Which of the following is the most
Q207: The "unfair-competition" argument might be cited by
Q213: The infant-industry argument
A)is based on the belief
Q236: When a country abandons a no-trade policy,adopts
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents