Which of the following statements about tariffs is true?
A) Retailers want to raise them
B) Tariffs have never been used as a government fund raiser
C) The World Trade Organization is responsible for the increase in the tariff rate
D) Import tariffs have been used to shield domestic manufacturers from foreign competition
E) Tariffs lower the cost of imported merchandise

Question

Quizplus · Accepted Answer

Import tariffs are often used to protect domestic industries by making foreign goods more expensive, thus encouraging consumers to buy domestically produced products.

Which of the Following Statements About Tariffs Is True