Should the home country be "large" relative to the world, its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms-of-trade effect exceeds the sum of the:

Question

Should the home country be "large" relative to the world, its imposition of a tariff on imports would lead to an increase in domestic welfare if the terms-of-trade effect  exceeds  the sum of the:

Answer

b.  Protective effect plus revenue effect

Answer

c.  Consumption effect plus redistribution effect

Answer

a.  Revenue effect plus redistribution effect

Answer

d.  Protective effect plus consumption effect

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Should the home country be "large" relative to the world, its imposition of a ta...

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