Poor developing countries typically impose __________ tariffs than rich advanced nations on imports?
Correct answer: B. higher
- A. lower
- B. higher
- C. about the same height
- D. None of the above
Explanation
Developing countries commonly use higher import tariffs to protect emerging domestic industries from foreign competition, whereas advanced economies generally maintain lower average tariffs. This protection can support local production but may raise domestic prices.
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About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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