Problem
Economist Abba Lerner proposed a tariff on oil imports equal to 100 percent of the import price. This tariff is designed to reduce dependence on foreign sources as well as to discourage OPEC from raising prices (since, due to the tariff, the delivered price would rise twice as much as the OPEC increase, causing a large subsequent reduction in consumption). Should this proposal become public policy? Why or why not?
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.