Business, 19.10.2021 02:00 hncriciacheichi
What is the mechanism by which high import tariffs can reduce a country’s trade deficit?a. High import tariffs lead to cheaper imports; leads to higher demand for imports; leads to reduction in trade deficit. b.High import tariffs leadsto expensive imports; leads to reduction in demand for imports; leads to reduction in trade deficit. c.High import tariffs leads to cheaper exports; leads to more exports; leads to reduction in trade deficit. d.High import tariffs leads to more expensive exports; leads to more exports; leads to reduction in trade deficit.
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What is the mechanism by which high import tariffs can reduce a country’s trade deficit?a. High impo...
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