Asked by
Jennifer Cortez
on Dec 08, 2024Verified
Tariffs, quotas, and exports subsidies all increase domestic production.
Tariffs
Taxes that a government places on imported goods, often to protect domestic industries or to raise revenue.
Quotas
Regulatory measures imposing limits on the amount or value of goods that can be traded, typically used in international trade.
Export Subsidies
Government payments made to domestic firms to encourage exports.
- Distinguish between the justifications and objections regarding free trade and protectionism.
Verified Answer
HA
Learning Objectives
- Distinguish between the justifications and objections regarding free trade and protectionism.