Which of the following is NOT a short-run impact of increasing tariffs on the Canadian industries they seek to protect?

Question

Quizplus · Accepted Answer

Increasing tariffs on Canadian industries will lead to higher prices for goods produced by those industries, which is described in option B. This is likely to reduce the purchasing power of consumers and decrease their real incomes, so option C is not correct. Option A is correct, as the government will receive more tax revenue as a result of the increased tariffs. Option D is also correct, as domestic production and sales of the protected industries are likely to increase due to the tariffs.

Which of the Following Is NOT a Short-Run Impact of Increasing