For many purposes, the use of a tariff is said by economists to be “second best.” This means that Group of answer choices Another policy exists that would accomplish the same purpose as the tariff at lower economic cost. The tariff does not help those with the highest incomes, but only those with the second highest. The tariff benefits the country only by making other countries worse off. The tariff cannot be beneficial for the country as a whole.
For many purposes, the use of a tariff is said by economists to be “second best.” This means that Group of answer choices Another policy exists that would accomplish the same purpose as the tariff at lower economic cost. The tariff does not help those with the highest incomes, but only those with the second highest. The tariff benefits the country only by making other countries worse off. The tariff cannot be beneficial for the country as a whole.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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For many purposes, the use of a tariff is said by economists to be “second best.” This means that
Group of answer choices
Another policy exists that would accomplish the same purpose as the tariff at lower economic cost.
The tariff does not help those with the highest incomes, but only those with the second highest.
The tariff benefits the country only by making other countries worse off.
The tariff cannot be beneficial for the country as a whole.
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