Question

2. Tariffs: a. Are taxes on imports b. Are taxes on exports c. Raise the price...

2. Tariffs:
a. Are taxes on imports
b. Are taxes on exports
c. Raise the price that importers pay
d. Raise the price that exporters pay
e. a and c

Homework Answers

Answer #1

Tariff is nothing but a protection measure of the economy where if the imports are cheaper and it is eating away the domestic economy then placed on the imports so that they are priced high and this is paid by the importers of the good from other country and this protects the domestic economy and brings in revenue to the country on the whole and that's the reason why

(a,c) are correct and that's why

(e) is the answer to this question

Because it is on imports and importers pay

(b,d) are wrong

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