1. If a country imposes a barrier (such as tariffs) against imports what is likely to happen to the price and amount of imported goods? (3 points)
2. Is anyone made worse off as a result of tariffs on imports? (8 points)
3. What are some arguments in favor of imposing trade tariffs?(8 points)
4. Why are industries (a relatively small group of people compared to the group of consumers affected by trade barriers) so effective in lobbying for trade restrictions? (4 points)