A tariff _____ the price received by domestic producers and _____ the price paid by domestic consumers.

A) decreases;increases
B) increases;decreases
C) decreases;decreases
D) increases;increases

Domestic Producers

Refers to manufacturers and suppliers that create goods and services within a country's borders, contributing to its economy.

Domestic Consumers

Individuals or households within a country that purchase goods and services for personal use, as opposed to businesses or foreign buyers.

Tariff

A tax imposed by a government on imported goods or services to protect domestic industries or generate revenue.