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How would you match each type of tariff A revenue tariff B protective tariff with its purpose C retaliatory tariff 1 earn money for the government 2 engage in a trade war 3 help domestic producers?
Revenue tariff - Earn Money for the Government Protective Tariff - Help domestic producers Retaliatory tariff - engage in a trade war
Is there any disadvantage to government placing tariff on imported goods?
There are several disadvantages to governments placing tariffs on imported goods. For example, countries may not want to import goods if they have to pay a tariff, and this process raises prices for consumers.
If the government raises everyone's taxes consumers have less money or income to spend on consumer goods and services?
true A+
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
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 is the tariff type of raise money to the government?
Protective tariff. These types of tariffs are placed by the government on goods that are imported in an effort to protect the countries specific trade on that good. This tariff raises the price of an imported good so high that others will turn to the local countries good instead. ^No. Incorrect. Falso. a protective tariff is designed to protect a domestic industry (which is what the above answer talked about). A revenue tariff is used to raise money for the government
What type of tariff is used to raise money for the government?
Protective tariff. These types of tariffs are placed by the government on goods that are imported in an effort to protect the countries specific trade on that good. This tariff raises the price of an imported good so high that others will turn to the local countries good instead. ^No. Incorrect. Falso. a protective tariff is designed to protect a domestic industry (which is what the above answer talked about). A revenue tariff is used to raise money for the government
What purpose does a tariff serve?
The purpose of a revenue tariff is to earn money for the govrnment.
How would you match each type of tariff A revenue tariff B protective tariff with its purpose C retaliatory tariff 1 earn money for the government 2 engage in a trade war 3 help domestic producers?
Revenue tariff - Earn Money for the Government Protective Tariff - Help domestic producers Retaliatory tariff - engage in a trade war
Was the tariff of 1828 good or bad?
After the US bank was shut down, they were short on money, so the government created the tariff.
Who gets tariff money?
Tariffs go to the government that impose them. For example; if the USA imposed a tariff on Iphones made and brought to the USA from China, the US government gets the money, which is usually a percentage of the product price, or some variation of that strategy. Bad news is that our government misuses the money.
Is there any disadvantage to government placing tariff on imported goods?
There are several disadvantages to governments placing tariffs on imported goods. For example, countries may not want to import goods if they have to pay a tariff, and this process raises prices for consumers.
Which federal tax raises the largest amount of money each year?
Federal Income tax is the largest tax for the government, it raises more money then anything else.
How is government funded and raises money?
through taxes and borrowing from other countries
Why did Hamilton create a tariff?
They raised money for the government and encouraged the growth of American industry's.
What If the government raises taxes and everything else remains constant?
comsumer will have less money to spend
How does the Chinese government raise money?
The Chinese government raises money by levying taxes. It also raised money by charging tariffs on imported goods and selling arms and weapons to other countries.
