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JAMB Economics 1993 Question 49

Question 49

International Trade

Tariffs on imports are meant to

  1. A.prevent a country from becoming a dumping ground for foreign goods
  2. B.discourage exports
  3. C.encourage exports
  4. D.increase the level of external dependency
Show the answer and explanation

Answer: A (prevent a country from becoming a dumping ground for foreign goods)

Explanation

Import duties make cheap foreign goods dearer, protecting home industries from dumping.