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How would an increase in tariffs of copper imports affect the elasticity of demand labor in copper industry?
Wiki User
∙ 11y ago
Supply for copper from outside will decline, Demand for copper locally will increase. More labour needed.
Wiki User
∙ 11y ago
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Does tariffs contribute to infant industry protection?
Infant industry protection can come in the form of Tariffs, Quotas, Non-Tariff-Barriers or any inhibition of free trade in order to protect a *particular* industry (rather than the whole economy) as that particular industry or firm achieves dynamic increasing returns (costs fall with cumulative production rather than with the current rate of production- in other words, costs fall as the firm gains experience). The argument of using tariffs to protect an infant industry are only valid when 1) the protection is for a firm or industry rather than the whole economy, 2) the industry is a potential source for comparative advantage and 3) the protection (usually a tariff) is temporary and ends when the firm becomes internationally competitive (this is especially difficult due to issues with political economy)
When one nation believes that another is using tariffs unfairly, the matter is adjudicated by:?
the Word Trade Organization
What is the name of the agreement that removed most tariffs between Mexico Canada and the US?
C. The North American Free Trade Agreement (NAFTA)
What is the harmonized system of nomenclature?
Harmonized system of Nomenclature (HSN) is an internationally accepted product coding system formulated under the auspices of the General Agreement of Tariffs and Trade (GATT). It forms the basis of the system of classification in Central Excise Act ,1985. It has been developed by the Customs Co-Operation, Brussels
How can one switch electricity suppliers?
To switch electricity suppliers, one must email in the following information: address to pinpoint the supply region, current supplier, payment method, tariff or tariffs one is currently on and an estimate of annual kWh consumption. You will then be given a list of the best options and can fill out an application to switch.
What did the North want to protect its industry?
It wanted to protect its industry by levying tariffs (taxes) on cheap imports. The South had very little industry, and needed cheap imports. So the tariffs looked like a tax by the North on the South.
What was the t ax hated by the south and needed to protect northern industry?
Tariffs on imports - having no industry, the South depended largely on imports.
What do you think was the goal of U.S tariffs?
To protect manufacturing industry from cheap foreign imports. Industry was mostly in the North. The South wanted cheap imports. So the tariffs looked like the North taxing the South.
How did Congress protect the New England textile industry?
Congress imposed tariffs (taxes on imports or exports) to protect the New England textile industry.
How did high tariffs on imported goods affect the southerns economy?
The tariffs protected Northern industry from cheap imports. The South had virtually no industry, and cheap imports suited them very well. So with a Northern majority in Congress, the tariffs looked like the North taxing the South. This pulled the two sides further apart.
Why does the north and south disagree over tariffs?
The North was trying to protect its manufacturing industry from cheap imports. The South had very little industry, and wanted cheap imports.
What political issues divided the northern and southern politicians?
The North was becoming industrialised and wanted to protect its industry by tariffs on imports. The South was farming country, with almost no industry, and they wanted cheap imports. The tariffs looked like the North taxing the South.
The north wanted to protect its industry?
Yes - with tariffs on imports. It was the South that mostly needed the imports, having no industry of its own. So it felt like the North taxing the South.
What did the north and south want in terms of foreign trade control by congress?
The North wanted tariffs on imports, to protect its manufacturing industry. The South had virtually no manufacturing industry, so it wanted cheap imports.
How do you use tariffs in a sentence?
I have a list of tariffs to do everyday when I get home from school.
Why did middle states like New York and Pennsylvania like tariffs?
Because the tariffs on imports protected their own manufacturing industries. The Southern states, having no manufacturing industry, regarded the tariffs as a tax on the South.
Why did the North wanted Tariffs and the South did not?
The North wanted to proetct its industry against foreign imports. The South only had cotton, and needed all kinds of imports. So the Tariffs were seen as a tax by the North on the South.
