Tariffs Are Common Today and Still Growing in Number Since

question 129

True/False

Tariffs are common today and still growing in number since they have a long history of successfully protecting jobs in this country.

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Definitions:

Trade Surplus

A situation where the value of a country's exports exceeds the value of its imports over a specific period, indicating a positive balance of trade.

Subsidy

Financial assistance granted by the government or a public body to support businesses, reduce costs, and encourage economic activities.

Domestic Firms

Companies that operate primarily within the country of their incorporation, focusing on serving the local market.

Inefficient

Lacking in effectiveness or productivity, resulting in wasted resources or effort without achieving the desired output.