Question

10. A country would place a tariff on imported steel to A. increase the standard of living for all citizens in the country. B. make the market as fair as possible for all steel manufacturers around the world. C. protect domestic steel manufacturers from foreign competition. D. lower prices for domestic steel consumers.

Answer 1

C is correct.
As a result of a tariff, prices for domestic steel consumers go up so D is false. Option B is false because it does not make the market fair for everyone as now domestic producers can charge a higher price since foreign competition is being excluded. Since B, D are false it would make sense that A is also untrue as consumers are now suffering while it is the producers who benefit. 

Answer 2

Answer:

C

Explanation:

Creating a favorable balance of trade. Restrictions such as tariffs and import quotas are put in place to encourage the purchase of domestically made goods rather than imports. This is to ensure that the nation exports more than it imports