mark the correct answer. 1. an import tariff always generates a loss in consumer surplus. (a) true (b) false 2. an import tariff imposed by the home country always generates a loss in the home country’s surplus. (a) true (b) false 3. an import tariff imposed by the home country always generates a loss in worldwide surplus. (a) true (b) false 4. protection of infant industries is one of the few examples where tariffs are always justified. (a) true (b) false 5. the wto prohibited all sorts of quotas in most industries.
