Which of the following is an incorrect observation?
A) Import tariffs benefit domestic producers and the government, but harms domestic consumers.
B) Gains from trade in terms of world output are reduced by export subsidies.
C) The overall domestic employment effects of a tariff imposition are likely to be positive.
D) If the imposition of a tariff leads to retaliatory tariffs by other countries, domestic employment outside the industry gaining the tariff protection would likely suffer.
Correct Answer:
Verified
Q125: Politicians often argue for tariff increases in
Q126: Exhibit 18-4 Q127: Exhibit 18-4 Q128: Which of the following observations is true Q129: Dumping occurs when a foreign country sells Q131: Exhibit 18-4 Q132: Exhibit 18-5 Q133: Which of the following is false with Q134: Exhibit 18-5 Q135: Imposing a tariff brings about: Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)higher prices and
