Which of the following is a likely result of imposing tariffs to increase domestic employment?

A) a decrease in consumer prices
B) a decrease in the tariff rates of foreign nations
C) an increase in the number of jobs
D) an increase in the possibility of retaliatory tariffs

Question

Angelica Santiago · Accepted Answer

Final Answer : D, Explanation :  Imposing tariffs to increase domestic employment may lead to retaliatory tariffs from other nations, which could harm the domestic economy and potentially lead to a trade war. A decrease in consumer prices (A) is unlikely because tariffs increase the cost of imported goods, making them more expensive for consumers. A decrease in the tariff rates of foreign nations (B) is also unlikely because other countries may respond with their own tariffs, leading to a scenario of tit-for-tat. While imposing tariffs may create some new jobs in certain industries, an increase in the number of jobs (C) is not a guaranteed result and may also be outweighed by the negative consequences of retaliatory tariffs.

Which of the following is a likely result of imposing tariffs to increase domestic employment?

A) a decrease in consumer prices
B) a decrease in the tariff rates of foreign nations
C) an increase in the number of jobs
D) an increase in the possibility of retaliatory tariffs

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Learning Objectives

Related questions

Which of the following is a likely result of imposing tariffs to increase domestic employment?A) a decrease in consumer pricesB) a decrease in the tariff rates of foreign nationsC) an increase in the number of jobsD) an increase in the possibility of retaliatory tariffs

Definitions

Learning Objectives

Learning Objectives

Related questions

Which of the following is a likely result of imposing tariffs to increase domestic employment?

A) a decrease in consumer prices
B) a decrease in the tariff rates of foreign nations
C) an increase in the number of jobs
D) an increase in the possibility of retaliatory tariffs