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What Are the Effects of a Tariff, and Who Benefits

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What are the effects of a tariff, and who benefits and who loses when tariffs are imposed? What are the effects of a quota, and who benefits and who loses when quotas are imposed?


Definitions:

Sample Size

The number of observations or subjects included in a study.

Effect Size

A quantitative measure of the magnitude of a phenomenon, used to indicate the size of an effect or difference found in a study.

Type I Error

The incorrect rejection of a true null hypothesis, or a "false positive," in hypothesis testing, indicating that the test suggests an effect that does not actually exist.

Type II Error

A statistical term referring to the error that occurs when a false null hypothesis is not rejected, indicating a false negative finding.

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