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WAEC Economics 2011 Question 45

Question 45

International Trade

Tariff is used to protect domestic industries by making foreign goods relatively

  1. A.cheaper in the domestic market.
  2. B.more expensive in the domestic market.
  3. C.more expensive in the international market.
  4. D.cheaper in the international market.
Show the answer and explanation

Answer: B (more expensive in the domestic market.)

Explanation

A tariff is a tax on imports, raising their price at home so local goods can compete.