Economists Consider Tariffs to Be

question 169

Multiple Choice

Economists consider tariffs to be

• A) necessary for the protection of domestic industries and the achievement of full employment.
• B) harmful to domestic consumers.
• C) obstacles that hinder voluntary exchange and gains from trade.
• D) both b and c above

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Definitions:

Standard Deviation

A statistical measure of the dispersion or variability in a set of data, often used in finance to gauge the volatility of an investment.

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable, indicating how much the distribution leans to the left or right of the mean.

Distribution

The process of making a product or service available for use or consumption by a consumer or business user.

Effective Annual Rate

The real return on an investment, considering the effect of compounding interest over a period, typically one year.