What is/are the central argument(s) against tariffs?
(a) They redistribute income away from consumers who are paying higher prices because of the tariffs. These rents are given to the individual industries that are protected by the tariffs and
are operating inefficiently.
(b) A laissez-faire economy is the American way.
(c) They protect the wealthy.
(d) They benefit only fast-growing industries.
ANSWER
(a)
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