If the Economic Arguments Against Tariffs and Quotas Are That

question 79

Multiple Choice

If the economic arguments against tariffs and quotas are that they are very costly for the macroeconomy, why are they imposed?

• A) The costs to individual consumers are small, whereas individual producers gain much from such trade barriers.
• B) Consumers have very large lobbying budgets.
• C) The costs to individual consumers are large, whereas individual producers gain little from such protection.
• D) The domestic prices of protected goods fall after the tariff or quota is imposed.

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Definitions:

Neuroticism

A personality trait marked by a tendency to experience negative emotional states.

Medical Care

Professional services provided by healthcare practitioners to diagnose, treat, and prevent illness and maintain physical and mental well-being.

Label for Symptoms

The process or action of identifying and naming symptoms experienced by an individual, often leading to diagnosis or recognition of a condition.

Catastrophize

The cognitive distortion of imagining the worst possible outcomes of a situation, often leading to increased anxiety and stress.