Tariffs and quotas are costly to consumers because the price of the imported good falls the supply of the imported good increases import competition increases for domestic goods consumers shift purchases to higher-priced domestic goods Tariffs and import quotas would benefit the following groups, except consumers of the product domestic producers of the product workers in domestic firms producing the product the government of the importing country

Tariffs and quotas are costly to consumers because the price of the imported good falls the supply of the imported good increases import competition increases for domestic goods consumers shift purchases to higher-priced domestic goods Tariffs and import quotas would benefit the following groups, except consumers of the product domestic producers of the product workers in domestic firms producing the product the government of the importing country

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter35: International Trade Restrictions

Section: Chapter Questions

Problem 3E

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Question

Tariffs and quotas are costly to consumers because

the price of the imported good falls

the supply of the imported good increases

import competition increases for domestic goods

consumers shift purchases to higher-priced domestic goods

Tariffs and import quotas would benefit the following groups, except

consumers of the product

domestic producers of the product

workers in domestic firms producing the product

the government of the importing country

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