Tariffs are taxes on imports, meaning that they increase the price of goods coming into a country. These increased prices are often passed on to consumers, making goods more expensive. Therefore, tariffs do not result in lower prices for consumers or businesses. Rather, they often serve to restrict domestic exports and generate revenues for the government.

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Tariffs

Question 164

Multiple Choice

Tariffs

A) result in lower prices for consumers.
B) restrict domestic exports.
C) generate revenues for government.
D) result in lower prices for businesses.
E) result in lower prices for government.

Correct Answer: