Question

When a nation removes a tariff on a product, this policy action rev: 06_20_2018 Multiple Choice benefits domestic producers of the product. benefits consumers of the product. benefits the government. hurts nations exporting the product.

Answer 1

Answer:

benefits consumers of the product.

Explanation:

Import tariffs are generally  put in place to protect domestic producers from foreign producers. Tariffs benefit domestic producers but hurt consumers since they are forced to pay higher prices.

When the import tariffs are withdrawn, the domestic price of the goods should decrease, benefiting consumers.