A tariff
A) makes domestic consumers better off.
B) makes both domestic producers and consumers better off.
C) makes everyone worse off.
D) makes domestic producers better off.
Answer: D
Economics
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The process by which monopoly profits lead to technological progress in known as
A) economies of scale. B) destructive creation. C) imperfect competition. D) creative destruction.
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A short-run decision by a firm to not produce anything during a specific period is referred to as a(n):
A) lockout. B) shutdown. C) buyout. D) exit.
Economics