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What purposes do tariffs serve?
Tariffs are fees or taxes collected on imported goods. They serve as a source of revenue and also have the effect of raising the prices of such imported goods thus making similar internally produced goods more attractive . They also tend to decrease the overall volume of the imports to which the tariffs are applied and this may help with a balance of payments problem.
Why was there an overproduction of consumer goods during the Great Depression?
People could afford to buy as many goods during the depression, and thus there was a much lower demand in relation to the supply of goods that was provided. This led to an overproduction of goods--too many were produced in relation to the amount that was demanded.
How did the lives of ordinary people change during the revolution?
the amount and variety of goods available to them.
What is one of the biggest changes for ordinary people during the Industrial Revolution was?
the amount and variety of goods available to them.
Raising taxes can help control inflation because?
Inflation is too much money chasing too few goods. If the new revenue from raising taxes is used to pay down debt, raising taxes can help control inflation by reducing discretionary income.
How some people got raising during the war by raising prices on goods?
profiteering
What is it called when Businesses are raising prices on goods that are scarce?
Price Gouging
What happened during the Union Blockade of Georgia's coast?
Prices of goods in the South skyrocketed and some people became Millionaires due to selling goods in inflated prices.
Why did prices increase during world war 1?
Well, there were limited supplies to be sold and many people were willing to pay more for their daily goods so shops took advantage of that and increased prices.
What is a list of prices of goods or books?
what is a list of prices of goods and books
What happened to the prices of goods during the Japanese Occupation?
It increased as there were shortage of food and not enough money.
Why did inflation occur in both the North and the South during the Civil War?
The limited supply of goods caused prices to rise.
How do price incentives affect people's behavior when shopping or buying goods?
the prices lowered
Lower prices on manufactured goods meant that?
More people could afford to buy them
Which of the following actions was not a part of the Agricultural Adjustment Administration plan to assist American farmers?
The act of raising the supply of agricultural goods to cut prices was not a part of the Agricultural Adjustment Administration.
What decrease in the aggregate supply?
A decrease in the supply of goods causes inflation because people are willing to pay higher prices for scarce goods.
Why did inflation in the north and south occur during the civil war?
the limited supply of goods caused prices to rise.
