The One Upside of Tariffs Is That They

question 43

Multiple Choice

The one upside of tariffs is that they:

• A) increase consumer surplus
• B) raise revenue for the government
• C) make goods cheaper domestically
• D) make goods cheaper internationally
• E) encourage increased trade

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Definitions:

Money Supply Growth

The rate at which the total amount of money available in an economy changes over a specific period of time.

Unemployment

Unemployment refers to the situation when individuals who are capable of working and are actively seeking employment are unable to find a job.

Financial Crisis

A situation where financial assets suddenly lose a large part of their nominal value, often leading to bankruptcies and economic downturns.

Phillips Curve

An economic concept illustrating an inverse relationship between the level of unemployment and the rate of inflation.