Economics · International Trade
Which of the following statements is correct regarding the economic impact of import 'Tariffs'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It increases the quantity of imports.
- 2It increases government revenue from taxation.✓
- 3It decreases the domestic price of the imported product.
- 4It decreases domestic production of import-competing goods.
Correct answer
It increases government revenue from taxation.
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