Historically, one of the most common reasons for countries to impose tariffs was
A) to protect their national security.
B) to raise revenue for the government.
C) to eliminate unemployment.
D) to counter inflation.
B
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
What will be the effects of an increase in real output on the interest rate?
What will be an ideal response?
The farmer's association is a type of government with unlimited jurisdiction
Indicate whether the statement is true or false
The main argument against using trade restrictions to retaliate against a country that raises its trade restrictions against you is
a. international trade may be further reduced between the two countries and your gains from trade become even smaller b. war may occur if mutual retaliations get out of hand c. both countries may find that they have greater access to each other's markets d. black markets will thrive as entrepreneurs find ways to enter each country's markets e. population will migrate from one country to the other in search of higher-paying jobs