The tariff reforms that Australia has undergone over the past 20 years are an example of:
A) demand-side fiscal policy.
B) demand-side monetary policy.
C) supply-side fiscal policy.
D) supply-side monetary policy.
E) labour market reform.

Question

Quizplus · Accepted Answer

Tariff reforms involve reducing or eliminating barriers to trade, which increases the level of competition in the economy. This can lead to increased efficiency and productivity, lower prices, and ultimately economic growth. Thus, it is an example of supply-side fiscal policy, which focuses on improving the supply-side of the economy to promote long-term economic growth. The other options listed do not accurately describe tariff reforms.

The Tariff Reforms That Australia Has Undergone Over the Past