The Main Purpose of a Protective Tariff Is to Increase

question 109

True/False

The main purpose of a protective tariff is to increase the tax revenue of the government.

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Definitions:

Patent Application

A formal request submitted to a patent office for the grant of a patent for the new and useful invention it describes.

20-Year Period

A term generally used to describe a fixed duration of twenty years, which can be relevant in various contexts, such as financial investments, statutes of limitations, and property rights.

General Welfare Clause

Article I, Section 8, Clause 1 of the U.S. Constitution which reads in part that Congress is empowered to “lay and collect taxes, Duties, Imposts, and Excises, to pay the Debts and provide for the common defense and general welfare of the United States.”