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Economics · May / June 2021 · Paper 12 · Question 27

2281Globalisation and trade restrictions

What is the most likely benefit for a low-income economy if it removes tariffs on imported goods and services?

  1. Amore choice for domestic consumers
  2. Bmore employment in declining industries
  3. Cmore exports by domestic firms
  4. Dmore tax revenue from imports

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Correct answer: A. more choice for domestic consumers

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