If a tariff is placed on a good,domestic producers of the good are _________,domestic consumers of the good are _________,and the government _________ tax revenue.

Question

Quizplus · Accepted Answer

When a tariff is placed on a good, domestic producers of that good become better off because the tariff raises the price of imported goods and may result in increased demand for domestically produced goods. Domestic consumers of the good become worse off due to the increased price of the good. The government gains tax revenue from the tariff. Therefore, C is the best choice.

If a Tariff Is Placed on a Good,domestic Producers of the Good