Problem
1. What factors influence the size of the revenue, protective, consumption, and redistributive effects of a tariff?
2. A nation that imposes tariffs on imported goods may find its welfare improving should the tariff result in a favorable shift in the terms of trade. Explain.
3. Which of the arguments for tariffs do you feel are most relevant in today's world?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.