Multiple Choice
Which of the following is an incorrect observation?
A) Import tariffs benefit domestic producers and the government, but harms domestic consumers.
B) Gains from trade in terms of world output are reduced by export subsidies.
C) The overall domestic employment effects of a tariff imposition are likely to be positive.
D) If the imposition of a tariff leads to retaliatory tariffs by other countries, domestic employment outside the industry gaining the tariff protection would likely suffer.
Correct Answer:

Verified
Correct Answer:
Verified
Q127: Which of the following is not a
Q128: A reduction in the tariff on imported
Q129: A nation can gain from international trade
Q130: Suppose that the U.S. can make 15
Q131: The central reason why there are gains
Q133: If Japan does not have a comparative
Q134: If opening up international trade resulted in
Q135: If one nation can produce greater quantities
Q136: Politicians often argue for tariff increases in
Q137: Assume that one day's labor in England