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:

International Business

Engaging in commerce and trade activities that cross national boundaries, involving different cultures and economic systems.

Localization Approach

A strategy used by businesses that adapt their products, services, and operations to meet the cultural, regulatory, and market needs of different geographic locations.

Balance Sheet Approach

A method in international human resource management that aims to equalize the standard of living between the host country and the home country of an expatriate.

Latin American Countries

Nations located in the Americas where Romance languages, primarily Spanish and Portuguese, are predominantly spoken.