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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

If there is a net loss to society from tariffs, why do tariffs exist?

To determine

Necessity of tariffs in the society.

Explanation

Tariff is a good measure to control the excess import of good. Importing goods is good for the development of a country. However, sometimes, it will lead to excess outflow of domestic currencies to the foreign countries...

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