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What effect does a tariff have on the price of a product in the country imposing the tariff?
Wiki User
∙ 13y ago
the effect it has on the good is that in 1828 the prices were lowered so that's why the effect is made.
Wiki User
∙ 13y ago
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What does imposing tariffs mean?
A tariff is a tax paid on goods brought into a colony or country; tariffs protect internal production by raising the price of imported goods.
What is the name of a tax on products being bought into a country?
A tax on products being brought into a nation is normally called a tariff. Tariffs can be positive or have negative results. Taxation means that another party has to pay the tax. What this refers to is this. A nation's citizens pay for the tax when they buy a product that is priced high to absorb the tariff. Or, the producer of the taxed product simply decides to not export a good product because the tariff is a political weapon.
Ask us of the following best describes the effect of a tariff on the import of cars from a foreign country?
The price paid by consumers is increased.
What was a positive effect of high tariff?
Higher profits
What are types of tariff with an example of its use?
Revenue tariff: A 5% tariff on sugar to generate public revenue; Protective tariff: A 50% tariff on sugar to keep domestic sugar producers in business; Retaliatory tariff: A 500% tariff on sugar to reply to a high tariff imposed by another country. or sales tax- 8% charged on purchases of luxury goods excise tax- 20% tax charged on each pack of cigarettes capital gains- 15% charged on profits from selling commodities or revenue tariff- a 6% tariff on oranges to provide money for the government protective tariff- a 50% tariff on oranges to shield domestic orange growers from international competition retaliatory tariff- a 200% tariff on oranges to reply to a high tariff imposed by another country
How might a country react to another country's protective tariff?
Sometimes a country suffering from a protective tariff will enact a tariff of its own on a product.
How does a tariff help a country's Gross domestic product on imports?
A tariff adds value to the Gross Domestic Product on imports.
What is the terms for the efforts to punish another nation by imposing trade barriers?
tariff
What does imposing tariffs mean?
A tariff is a tax paid on goods brought into a colony or country; tariffs protect internal production by raising the price of imported goods.
The goal of the Tariff Act of 1789 was to protect manufacturing interests by imposing a tariff on imported manufactured goods Name the man who was the chief advocate of the policy and name his party?
Alexander Hamilton
What things have tariffs?
A tariff may be applied by a country A on a product P which is imported from country B. Different countries have different rules about whether or not they impose tariffs depending on the product and partner country. The question, therefore, needs to be more specific.
What is a tax placed on goods from another country to protect the home industry?
protective tariff
What is the name of a tax on products being bought into a country?
A tax on products being brought into a nation is normally called a tariff. Tariffs can be positive or have negative results. Taxation means that another party has to pay the tax. What this refers to is this. A nation's citizens pay for the tax when they buy a product that is priced high to absorb the tariff. Or, the producer of the taxed product simply decides to not export a good product because the tariff is a political weapon.
What was a positive effect of tariff?
Higher profits
Ask us of the following best describes the effect of a tariff on the import of cars from a foreign country?
The price paid by consumers is increased.
What was a positive effect of high tariff?
Higher profits
What best describes the effect of a tariff on the import of cars from a foreign country?
Foreign cars become more expensive.
