What are the commonly used arguments for the use of tariffs?
Arguments for the use of tariffs include: tariffs help infant industries grow; tariffs can reduce domestic unemployment; new tariffs can help finance our international trade; and tariffs are necessary for national security reasons.
Economics
You might also like to view...
Assume that when price is $20, quantity demanded is 9 units, and when price is $19, quantity demanded is 10 units. Based on this information, we can conclude that over the price range from $19 to $20, demand is price:
A) elastic. B) unit elastic. C) inelastic. D) cannot be determined.
Economics
An association of producers such as OPEC that agrees to set common pricing or output goals is referred to as a
A) cartel. B) conglomerate. C) monopoly. D) partnership.
Economics