Asked by
Ashley Johnson
on Oct 12, 2024Verified
Tariffs lead to
A) the expansion of relatively efficient industries.
B) an under allocation of resources to relatively efficient industries.
C) an increase in the foreign demand for domestically produced goods.
D) an under allocation of resources to relatively inefficient industries.
Tariffs
Taxes imposed by a government on imported goods to protect domestic industries and generate revenue.
Allocation
The process of distributing resources or tasks among people or groups based on a specific criteria.
Efficient Industries
Industries that achieve maximum productivity with minimum wasted effort or expense.
- Analyze the effects of tariffs and trade agreements on international trade.
Verified Answer
VT
Learning Objectives
- Analyze the effects of tariffs and trade agreements on international trade.