If protective import-restricting tariffs are imposed by a country,in the vast majority of cases the consumers end up
A)paying a higher price for the good than they otherwise would.
B)paying a lower price for the good than they otherwise would.
C)consuming more of the good than they otherwise would.
D)having a higher standard of living than they otherwise would.

Question

Quizplus · Accepted Answer

When a country imposes tariffs on imported goods, it increases the price of those goods for consumers. This is because the importing company has to pay a higher cost to bring the goods into the country, and they pass that cost on to the consumer by raising prices. This means that consumers end up paying a higher price for the good than they would have if there were no tariffs.

If Protective Import-Restricting Tariffs Are Imposed by a Country,in the Vast