Who Does Not Gain When a Tariff Is Imposed

question 236

Multiple Choice

Who does not gain when a tariff is imposed?

• A)Domestic producers of the good.
• B)Domestic workers in the protected industry.
• C)Domestic consumers of the good.
• D)Domestic suppliers in the protected industry.
• E)All of the choices are true

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Definitions:

Richest Families

Families with the highest net worth or wealth, typically acquired through inheritance, investments, or successful business ventures.

Total Income

The sum of all earnings or revenue generated by an individual or entity from various sources before any deductions.

Poverty Threshold

The lowest amount of money required to maintain a sufficient quality of life in a specific nation.

General Level

Often refers to the overall scope or extent of something, such as a general level of understanding or activity, but in an economic context, it might not have a specific definition.