Economics · Trade Barriers and Tariffs
When a small nation imposes an import tariff, what is the effect on the domestic consumers?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The domestic prices of the inputs of importable commodity rises by the full amount of the tariff for producers in the nation
- 2The domestic price of the importable commodity remains constant for consumers in the natio n
- 3The domestic price of the importable commodity rises by the full amount of the tariff for consumers in the nati on✓
- 4The domestic price of the importable commodity decreases by the full amount of the tariff for consumers in the nation
Correct answer
The domestic price of the importable commodity rises by the full amount of the tariff for consumers in the nati on
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