Asked by
irancia thompson
on Nov 17, 2024Verified
When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off.
Tariff
A tax on imports or exports between sovereign states.
Imports
Goods and services brought into one country from another for sale, typically subject to tariffs and trade agreements.
Buyers
Individuals or entities that purchase goods or services.
- Assess the repercussions of tariffs and quotas on domestic production entities, purchaser outcomes, and governmental fiscal receipts.
Verified Answer
WW
Learning Objectives
- Assess the repercussions of tariffs and quotas on domestic production entities, purchaser outcomes, and governmental fiscal receipts.