Relative to an Environment with Free Trade and No Tariff

question 145

Multiple Choice

Relative to an environment with free trade and no tariff, the winners from the tariff are the domestic ________, and the losers from the tariff are the domestic ________.

• A)consumers of sugar; producers of sugar
• B)producers of sugar and the government; consumers of sugar
• C)producers of sugar; consumers of sugar and the government
• D)consumers of sugar and the government; producers of sugar

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Definitions:

Forethought

The thoughtful consideration and planning of actions in advance, often to achieve a desired outcome or avoid negative consequences.

Original Equipment Manufacturer

An entity that produces parts and equipment that may be marketed by another manufacturer.

Producer

An individual, group, or organization that creates goods or provides services, typically for sale.

Business Customers

Organizations that purchase goods or services for use in the production of other services or products that are sold, rented, or supplied to others.