asked 94.6k views
4 votes
What is the long-term effect of tariffs and other trade barriers?

2 Answers

6 votes

for plato, the answer is a. higher prices!

posting this for future users! :33

answered
User Jivopis
by
8.3k points
1 vote
The long-term effect of tariffs and other trade barriers is that domestic production increases, since there is no foreign competition in the market. However another long-term consequence is that innovation suffers due to this same lack of foreign competition. 
answered
User Shital
by
7.6k points

No related questions found

Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.