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

A tariff increases both the price domestic consumers pay and the price domestic producers receive. Hence the correct response for this question is option (d).

What are tariffs and why are they imposed ?

Imports are constrained by tariffs. Simply expressed, they raise the cost of products and services bought from another nation, making them less alluring to domestic customers.

Understanding how a tariff impacts the exporting nation is crucial since consumers there may be less likely to buy imports as a result of the tariff's price increase. The tax has, however, essentially increased the cost to the consumer in another country if the consumer choose to purchase the imported good.

For a number of reasons, governments may apply tariffs:

Increase salessafeguarding domestic industriessafeguarding home consumerssafeguarding national interests

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The complete question is given below :

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

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

Answer :

What are tariffs and why are they imposed ?

Go Teaching: Other Questions

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