Tariffs and other trade restrictions increase the domestic scarcity of products from abroad. Such policies benefit domestic producers of the restricted products at the expense of domestic consumers." This statement: Question 49 options: contains one error; the trade restraints do not increase the scarcity of foreign-produced goods. contains one error; domestic producers gain at the expense of foreign producers rather than domestic consumers. contains two errors; trade restraints do not increase the domestic scarcity of product and neither do they harm domestic consumers. is essentially correct.
Tariffs and other trade restrictions increase the domestic scarcity of products from abroad. Such policies benefit domestic producers of the restricted products at the expense of domestic consumers." This statement: Question 49 options: contains one error; the trade restraints do not increase the scarcity of foreign-produced goods. contains one error; domestic producers gain at the expense of foreign producers rather than domestic consumers. contains two errors; trade restraints do not increase the domestic scarcity of product and neither do they harm domestic consumers. is essentially correct.
Chapter18: International Trade And Finance
Section: Chapter Questions
Problem 7SQ
Related questions
Question
Tariffs and other trade restrictions increase the domestic scarcity of products from abroad. Such policies benefit domestic producers of the restricted products at the expense of domestic consumers." This statement:
Question 49 options:
|
contains one error; the trade restraints do not increase the scarcity of foreign-produced goods. |
|
|
contains one error; domestic producers gain at the expense of foreign producers rather than domestic consumers. |
|
|
contains two errors; trade restraints do not increase the domestic scarcity of product and neither do they harm domestic consumers. |
|
|
is essentially correct. |
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