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Question: The net outcome of either tariffs or quotas for the world economy is:


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Question: The net outcome of either tariffs or quotas for the world economy is:

 


  • indeterminate, since neither the costs to consumers nor the gains to producers and government are consistent.
  • zero, since the costs to consumers equal the gains to producers and government.
  • negative, since the costs to consumers substantially exceed the gains to producers and government.
  • positive, since the costs to consumers do not exceed the gains to producers and government


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