Asked by
qifeng liang
on Nov 17, 2024Verified
When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off and sellers of shoes in that country become better off.
Tariff
A tax imposed by a government on goods and services imported from other countries.
Imports
Imports are goods or services brought into one country from another for sale, usually regulated by the government with tariffs, quotas, or trade agreements.
Buyers
Individuals or entities that purchase goods or services for personal use, resale, or production.
- Analyze the effects of tariffs and quotas on domestic producers, consumers, and government revenue.
Verified Answer
KA
Learning Objectives
- Analyze the effects of tariffs and quotas on domestic producers, consumers, and government revenue.