Essentials of Economics 7th Edition by Gregory Mankiw

Exercise 16

Which of the following trade policies would benefit producers, hurt consumers, and increase the amount of trade?
A) the increase of a tariff in an importing country
B) the reduction of a tariff in an importing country
C) starting to allow trade when the world price is greater than the domestic price
D) starting to allow trade when the world price is less than the domestic price