The Primary Benefits Derived from Tariffs Usually Accrue to the

question 37

Multiple Choice

The primary benefits derived from tariffs usually accrue to the

• A) domestic consumers of goods protected by the tariffs.
• B) foreign producers of goods protected by the tariffs.
• C) domestic producers of export goods.
• D) domestic suppliers of goods protected by the tariffs.

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Definitions:

Tax Revenue

Income that is gained by governments through taxation, which is then used to fund public services and government obligations.

White Water Rafting

an adventurous outdoor activity which involves navigating rivers or waterways with varying degrees of rough water or rapids in a raft.

Unit Cost

The expenditure a business incurs in the production, storage, and distribution of an individual unit of a certain product or service.

Deadweight Loss

A loss of economic efficiency that occurs when the optimal quantity of a good is not produced.