Asked by Priyadarshi Samal on May 07, 2024
Verified
Import tariffs benefit the consumers of the product involved.
Import Tariffs
Taxes imposed by a government on goods and services imported from other countries, affecting their price and availability.
Consumers
Individuals or entities that purchase goods and services for personal use.
- Study the repercussions of tariffs, quotas, and sundry trade barriers on local and international trading contexts.
Verified Answer
RB
Reymi BatistaMay 10, 2024
Final Answer :
False
Explanation :
Import tariffs generally increase the cost of imported goods, making them more expensive for consumers, which can lead to decreased consumer welfare and higher prices for products in the domestic market.
Learning Objectives
- Study the repercussions of tariffs, quotas, and sundry trade barriers on local and international trading contexts.
Related questions
Trade Adjustment Assistance Provides Subsidies to Companies That Have Lost ...
Bastiat's Petition of the Candlemakers, a Classic Reading in Economics ...
Common Arguments Often Raised to Justify Trade Barriers Include the ...
Trade Protection in Most Instances Transfers Wealth from Consumers to ...
Whenever a Foreign Producer Is Selling a Product Like Steel ...