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MMLU / Which of the following is a consequence of a protective tariff on imported…

Problem

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question

Which of the following is a consequence of a protective tariff on imported steel?

choices

  1. Net exports fall.
  2. Income is transferred from domestic steel consumers to domestic steel producers.
  3. Allocative efficiency is improved.
  4. Income is transferred from domestic steel to foreign steel producers.

subject

high_school_macroeconomics

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