Question: explain why tariffs on imported goods should not be used? Con text: Normative economic statements are economic policy goals and values (opinions). There are two

explain why tariffs on imported goods should not be used?

Con text: Normative economic statements are economic policy goals and values (opinions). There are two types of economic goals: efficiency and equity. We will begin with efficiency, which is covered extensively in Chapter 4. Consider these policies: One: Substantial subsidies to college education, assuming that there is a positive externality to acquiring a college degree. (related to Chapter 4 rea d ing) Two: Large taxes or penalties for farmers who overuse pesticides and fertilizer, causing runoff into public waterways (a negative externality). (related to Chapter 4 reading) Three: Tariffs on imported goods. (related to

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