How would a tariff on foreign goods affect the national economy?

Trade barriers such as tariffs raise prices and reduce available quantities of goods and services for U.S. businesses and consumers, which results in lower income, reduced employment, and lower economic output.

Explanation:

the phenomenon that would be cited as evidence of increased economic interdependence between europe and the americas is  the development of mercantilism.

this theory suggests that the wealth of a country depends on its economic assets, or capital.

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