A tariff leads to a leftward shift of the _______curve,resulting in ______ prices and __________ imports.

Question

Quizplus · Accepted Answer

Tariffs on imports reduce the supply of imported goods because they make those goods more expensive to import. This is represented by a leftward shift of the supply curve. As a result, the prices of these goods increase, and the quantity of goods imported decreases due to the higher prices and reduced supply.

A Tariff Leads to a Leftward Shift of the _______Curve,resulting