The imposition of a tariff will typically ________ government revenue and ________ domestic production of the good.

Name: The imposition of a tariff will typically ________ government revenue and ________ domestic production of the good.
Brand: Quizplus
Rating: 4.9 (39 reviews)

Question

Quizplus · Accepted Answer

Tariffs are taxes on imported goods. When a tariff is imposed, it typically increases government revenue through the collected taxes and encourages domestic production by making imported goods more expensive, thus giving domestic producers a competitive advantage.

The Imposition of a Tariff Will Typically ________ Government Revenue