When tariffs are imposed,the losers include
A)Domestic consumers and the domestic government.
B)Foreign consumers and domestic producers of import-competing goods.
C)Domestic consumers and domestic producers of import-competing goods.
D)Domestic consumers and foreign producers.

Question

Quizplus · Accepted Answer

When tariffs are imposed, domestic consumers lose because they have to pay higher prices for imported goods. Foreign producers also lose because their goods become less competitive in the domestic market, reducing their sales and profits.

When Tariffs Are Imposed,the Losers Include