Why do governments so often choose to protect favored industries with tariffs? Group of answer choices The economic benefits to the industries are larger than the costs to demanders. The gains from protection are enjoyed by many, while the costs are borne by only a few. The few who gain from protection each gain a lot, while the many who lose each lose
Why do governments so often choose to protect favored industries with tariffs? Group of answer choices The economic benefits to the industries are larger than the costs to demanders. The gains from protection are enjoyed by many, while the costs are borne by only a few. The few who gain from protection each gain a lot, while the many who lose each lose
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
Problem 2PA
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Why do governments so often choose to protect favored industries with tariffs?
Group of answer choices
The economic benefits to the industries are larger than the costs to demanders.
The gains from protection are enjoyed by many, while the costs are borne by only a few.
The few who gain from protection each gain a lot, while the many who lose each lose only a little.
The economic benefits to the industries are larger than the cost to government.
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