Discussion Post: The Effects of Tariffs & Quotas
Tariffs indirectly limit imports by imposing taxes on imported items whereas quotas directly limit the quantity of imports. Compare and contrast tariffs and quotas in their effects on the U.S. economy in areas such as gross domestic product (GDP), inflation, employment or unemployment, producers and workers, consumers, and economic welfare. Are you in favor of tariffs and quotas or against them? Explain your reasoning.
The response should include a reference list. One-inch margins, Using Times New Roman 12 pnt font, double-space and APA style of writing and citations.