--%>

Why Trade barriers hurt American consumers

Why Trade barriers hurt American consumers?

E

Expert

Verified

Trade barriers hurt American consumers who must pay higher than world prices.  Interference with international trade through protective tariffs and quotas is shown to cost society more than the benefits that are received by the protected firms and workers.

   Related Questions in Business Economics

  • Q : Importance of rationally optimal

    Economic scarcity is pervasive, that makes choices essential. Therefore, rationally optimal decisions hinge upon tradeoffs which essentially reflect: (i) cooperation to minimize human greed. (ii) opportunity costs. (iii) competitive social behavior. (

  • Q : Exchange and Specialization I have a

    I have a problem in economics on Exchange and Specialization. Please help me in getting the right answer from the following question. Sarah the wheat farmer would be most probable to trade for fruit from the Kathy's orchard if: (i) Sarah's opportunity

  • Q : Speculators decreases price volatility

    Speculators decrease price volatility through, in effect, changing demand curves: (w) out at low prices, and shifting supply curves out at high prices. (x) out at low prices, and shifting supply curves within at low p

  • Q : Major players in international trade

    Who are the major players in international trade today?  Besides Japan, what other Asian nations play significant roles in international trade?

  • Q : Describe the Slope of a nonlinear curve

    Describe the Slope of a nonlinear curve?

  • Q : Freely Floating Currency Question: For

    Question: For a freely floating currency, currency i.____________________ occurs when the market value of a country's currency rises relative to the value of another country's currency, while currency ii.__________

  • Q : Describe the output effects of Inflation

    Describe the output effects of Inflation?

  • Q : Elucidate the ways to finance corporate

    Elucidate the ways to finance corporate activity?

  • Q : Wealth of Nations academic

    By the perspective of nowadays academic standards, Adam Smith must have more evidently acknowledged that several the analyses and insights for that he took credit within his Wealth of Nations had really been gleaned from the writings

  • Q : Adopting policy of paying efficiency

    The expected losses to workers by shirking are increased while a firm adopts a policy of: (1) dividing productive tasks therefore the division of labor is optimal. (2) paying efficiency wages that exceed market-clearing wages. (3) avoiding legal liability from not wri