Question

100 POINTSWhat is one of the main economic effects of a tariff increase? (5 points)

Reduced productivity


Higher prices for consumers


Increased wages for workers


Decreased profits for domestic industries

Answer 1

I would say a higher price for consumers because tariffs force imports to be taxed so the companies or entities being taxed will most likely make up for loss through taxes by raising the price of the goods being taxed.

Answer 2

Answer B is correct

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