Which of the following is an impact of tariffs on the country imposing them?
A)The domestic producers of import-competing products are forced to charge a lower price for their products to retain market share.
B)The supply of the domestic import-competing products declines.
C)The domestic consumers pay a higher price for the imported products.
D)The demand for the imported goods by the domestic consumers increases.

Question

Quizplus · Accepted Answer

Tariffs increase the cost of importing goods, making them more expensive for domestic consumers. This results in higher prices for the imported products, which the domestic consumers will have to pay.

Which of the Following Is an Impact of Tariffs on the Country