For industrial nations, tariffs on raw materials are generally
A) higher than on agricultural products.
B) lower than on manufactured products.
C) equal to tariffs on manufactured products.
D) lower than on agricultural products.

Question

Quizplus · Accepted Answer

Tariffs on raw materials tend to be lower in industrial nations compared to manufactured products because industrial nations often rely on imported raw materials to support their domestic manufacturing industries. Tariffs on manufactured products protect domestic industries from foreign competition, whereas raw materials may not face as much competition from overseas producers. Agricultural products may also face high tariffs due to protectionism for local farmers, but this is not linked to the question of tariffs on raw materials in industrial nations.

For Industrial Nations, Tariffs on Raw Materials Are Generally