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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:

John the Baptist

A Jewish preacher and prophet in the early 1st century, known for baptizing Jesus Christ and recognized as a significant figure in Christianity, Islam, and other religions.

Santa María

The largest of the three ships used by Christopher Columbus on his first voyage across the Atlantic Ocean in 1492.

Monte

A term that can refer to a mountain or a heap of something, but contextually might need specification.

Church

Christian house of worship.

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