An article in the economist magazine notes one analysis


An article in the Economist magazine notes: "One analysis suggests that just getting rid of tariffs could raise Europe's GDP by around 0.4% and America's by a percentage point."

a. Why would getting rid of tariffs be likely to increase the total production of goods and services in Europe and the United States?

b. Why might someone who accepts this analysis still be opposed to eliminating tariffs?

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Microeconomics: An article in the economist magazine notes one analysis
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