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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

Consider two groups of domestic producers: those which compete with imports and those which export goods. Suppose the domestic producers that compete with imports convince the legislature to impose a high tariff on imports—so high, in fact, that almost all imports are eliminated. Does this policy in any way adversely affect domestic producers that export goods? If so, how?

To determine

Effects of import tariff on exporters and import competitors.

Explanation

Imposing of tariff also affects the exporters. Tariff reduces the volume of imports from foreigners. As a result, there is a decrease in their purchasing power, which would reduce the demand for domestic goods...

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