What are the commonly used arguments for the use of tariffs?


Arguments for the use of tariffs include: tariffs help infant industries grow; tariffs can reduce domestic unemployment; new tariffs can help finance our international trade; and tariffs are necessary for national security reasons.

Economics

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If quota rights accrue to foreigners, then _____.

A) the domestic economy is better off with a quota than with a tariff B) the domestic economy is worse off with a quota than with a tariff C) consumer surplus and economic welfare increase D) production costs decrease E) part of the decrease in consumer surplus is redistributed to the domestic government

Economics

During a time when the inflation rate is increasing each year for a number of years, are adaptive expectations or rational expectations likely to give the more accurate forecasts? Briefly explain

What will be an ideal response?

Economics

Economic profit is the difference between a firm's revenue and its opportunity costs

Indicate whether the statement is true or false

Economics

If expected inflation were 3%, and the real interest rate was 6%, what sector would be worse off if the actual inflation rate turned out to be 5%

a. Businesses. b. Laborers. c. Both. d. None.

Economics