Of the Following, Who Gains Because of Tariffs and Why

question 103

Multiple Choice

Of the following, who gains because of tariffs and why?

• A) Foreign governments because they gain more revenue.
• B) Domestic buyers because they pay a lower price.
• C) Domestic buyers because they can be sure of buying high-quality products.
• D) Foreign producers because they earn more total revenue.
• E) Domestic producers of protected goods because they can sell at a higher price.

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Definitions:

Political Beliefs

The convictions or opinions individuals hold about political issues, policies, and personalities.

Lumpenproletariat

A term used in Marxist theory to describe the underclass, excluded from the class structure of capitalist society, without access to the means of production.

Critical Distance

Critical distance involves maintaining an analytical perspective that allows for objective evaluation and critique of a subject, avoiding personal bias or emotional involvement.

Social Change

The alteration in the social order of a society, which may include changes in its nature, social institutions, social behaviors, or social relations.