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A tariff raises the price of an imported good above the world price of that good by the amount of the tariff. Domestic suppliers are then able to raise the price of their good to the price of the imported good. The rise in price causes some buyers to exit the market, and by reducing the domestic quantity demanded the consumer surplus decreases, creating a deadweight loss.
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What is the effect of an import tariffs charged on a particular good?
The price paid by consumers is increased.
Why do tariffs result in benefits for domestic producers but costs for domestic consumers?
They just do
1 What is meant by this statement Quotas are hidden tax on consumers whereas tariffs are a more obvious one?
Tariffs are active taxes which are reflected in the price. Qoutas restrict supply consequentially which send market prices up higher
In effect tariffs on imports are?
subsidies for domestic producers
What is a positive effect of high tariffs?
Higher profits
What is the effect of an import tariffs charged on a particular good?
The price paid by consumers is increased.
What effect did the protective tariffs have on goods exported by the south?
it depends what tariffs and when but, i if you are referring to after the revolutionary war, then the effect was the whiskey rebellion.
Why do tariffs result in benefits for domestic producers but costs for domestic consumers?
They just do
1 What is meant by this statement Quotas are hidden tax on consumers whereas tariffs are a more obvious one?
Tariffs are active taxes which are reflected in the price. Qoutas restrict supply consequentially which send market prices up higher
How do protective tariffs effect price and quantity?
feiruz
In effect tariffs on imports are?
subsidies for domestic producers
What is a positive effect of high tariffs?
Higher profits
Why did business owners favor higher tariffs more than consumers?
because they were liitle cheesedicks
How do tariffs hurt consumers?
the tariff raised prices of prouducts causing them to have to pay more for products
What affect did the protective tariffs have on the American economy?
Protective tariffs had a few effects in the American economy. The main effect that it had was pricing.
What group of Americans would most likely oppose the high tariffs of the late 1800's?
consumers
What effect does trade have on consumers?
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