Tariffs are NOT defended on the grounds that theyA) improve the terms of trade of foreign nations.B) protect jobs and reduce unemployment.C) promote growth and development of young industries.D) prevent over-dependence of a country on only a few industries.E) protect domestic producers from foreign low prices.
Question
Tariffs are NOT defended on the grounds that theyA) improve the terms of trade of foreign nations.B) protect jobs and reduce unemployment.C) promote growth and development of young industries.D) prevent over-dependence of a country on only a few industries.E) protect domestic producers from foreign low prices.
Solution
Tariffs are NOT defended on the grounds that they:
A) improve the terms of trade of foreign nations. Step 1: Tariffs are not implemented to improve the terms of trade of foreign nations. This means that tariffs are not intended to benefit other countries in terms of their trade relationships.
B) protect jobs and reduce unemployment. Step 2: Tariffs are not implemented to protect jobs and reduce unemployment. This means that tariffs are not intended to safeguard employment opportunities or decrease the overall unemployment rate.
C) promote growth and development of young industries. Step 3: Tariffs are not implemented to promote the growth and development of young industries. This means that tariffs are not intended to support the establishment and expansion of emerging industries.
D) prevent over-dependence of a country on only a few industries. Step 4: Tariffs are not implemented to prevent over-dependence of a country on only a few industries. This means that tariffs are not intended to diversify a country's economic activities and reduce reliance on a limited number of industries.
E) protect domestic producers from foreign low prices. Step 5: Tariffs are not implemented to protect domestic producers from foreign low prices. This means that tariffs are not intended to shield domestic producers from competition with cheaper foreign goods.
Similar Questions
Another function of the tariff is to protect domestic producers from foreign competition
Import tariffs:Question 1Select one:a.Are generally pro-consumer and anti-producer.b.Reduce the overall efficiency of the world economy.c.Create efficient utilization of resources.d.Reduce the price of foreign goods.
Trade barriers can be beneficial to a country because they:A.prevent the country from becoming too reliant on foreign goods.B.increase the variety of consumer goods available in the country.C.lower the overall cost of producing goods within the country.D.make businesses in the country more efficient at producing goods.
A lower tariff on imported steel would most likely benefitA) foreign producers at the expense of domestic consumers.B) domestic manufacturers of steel.C) domestic consumers of steel.D) workers in the steel industry.E) foreign consumers of steel.
A country that imposes a tariff on imported goods is most likely to experience which benefit?A.Working conditions for domestic workers will improve relative to other countries.B.A wider variety of imported products will become available to consumers.C.The country will begin producing goods more efficiently than other countries.D.Goods produced by domestic companies will be cheaper than competing imports.
Upgrade your grade with Knowee
Get personalized homework help. Review tough concepts in more detail, or go deeper into your topic by exploring other relevant questions.