A reduction in the tariff on imported steel would most likely benefit

Question

Quizplus · Accepted Answer

A reduction in the tariff on imported steel would lower the cost of steel for domestic consumers, and thus benefit them. Workers in the steel industry might be negatively affected by increased competition from foreign producers, and domestic producers of steel might also suffer from the increased competition. Therefore, choices A and C are incorrect. Additionally, while foreign producers may benefit from the tariff reduction, it would not necessarily be at the expense of domestic consumers, so choice D is also incorrect.

A Reduction in the Tariff on Imported Steel Would Most