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prohibitive tariff [1 record]

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Alphabetical list of terms

Record 1 2017-09-01

English

Subject field(s)
  • Foreign Trade
CONT

A system of prohibitive tariffs puts a society inefficiently inside the consumption - possibility frontier that would be available if the efficiencies of international exchange and division of labor were utilized.

CONT

An ill-designed prohibitive tariff, far from helping the protected factor of production, will instead reduce its real wage by making imports expensive and by making the whole world less productive through eliminating the efficiency inherent in the best pattern of specialization and division of labor.

French

Domaine(s)
  • Commerce extérieur

Spanish

Campo(s) temático(s)
  • Comercio exterior
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