7. Lobbying for or against trade restrictions Trade restrictions affect the overall welfare of an economy, since they change the price consumers pay for a good and the quantity produced and consumed domestically. Trade restrictions, such as tariffs, usually benefit domestic price of a good. and hurt domestic since they the domestic True or False: Producers find it difficult to exert the political influence needed to establish trade restrictions, because the benefits to producers are very small and widely dispersed, which makes it difficult for producers to organize. O True O False
7. Lobbying for or against trade restrictions Trade restrictions affect the overall welfare of an economy, since they change the price consumers pay for a good and the quantity produced and consumed domestically. Trade restrictions, such as tariffs, usually benefit domestic price of a good. and hurt domestic since they the domestic True or False: Producers find it difficult to exert the political influence needed to establish trade restrictions, because the benefits to producers are very small and widely dispersed, which makes it difficult for producers to organize. O True O False
Chapter17: International Trade
Section: Chapter Questions
Problem 2.6P
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Trade restrictions affect the overall welfare of an economy, since they change the price consumers pay for a good and the quantity produced and consumed domestically.
Transcribed Image Text:7. Lobbying for or against trade restrictions
Trade restrictions affect the overall welfare of an economy, since they change the price consumers pay for a good and the quantity produced and
consumed domestically.
Trade restrictions, such as tariffs, usually benefit domestic
price of a good.
and hurt domestic
since they
the domestic
True or False: Producers find it difficult to exert the political influence needed to establish trade restrictions, because the benefits to producers are very
small and widely dispersed, which makes it difficult for producers to organize.
O True
O False
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