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Imagine your state grows bananas, but the weather is a bit dry. The government has imposed a tariff on bananas imported from other states because
Imagine your state grows bananas, but the weather is a bit dry. The government has imposed a tariff on bananas imported from other states because your state's farmers cannot compete since the other states' weather allows for bigger, better bananas. This tariff raises imported bananas' prices to protect your state's farmers. If tariffs are not imposed, 10,000 parking jobs will be at risk, but if you do impose tariffs, the price will increase for consumers. Using the banana scenario above, would you impose a tariff? Why or why not? Explain who benefits from tariffs imposed on imported products and how they benefit. Describe the negative effect of economic protectionism on you as a consumer and explain how it might affect the prices you pay at the checkout lane; provide an example
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