An increased scarcity of a product benefits producers and harms consumers. In effect, tariffs and other trade

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An increased scarcity of a product benefits producers and harms consumers. In effect, tariffs and other trade restrictions increase the domestic scarcity of products by reducing the supply from abroad. Such policies benefit domestic producers of the restricted product at the expense of domestic consumers.” Evaluate this statement.

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Macroeconomics Private And Public Choice

ISBN: 9780357134009

17th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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