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An increase in tariffs on imported goods will shift the aggregate supply curve to the left and cause the level of output to decrease.
By increasing the costs to U.S.businesses that rely on imported inputs,tariffs cause production costs to rise,shifting the AS curve to the left.
Monthly Basis
An occurrence or calculation that happens every month.
Round Answers
Round Answers indicates the practice of adjusting numerical answers to a specified degree of precision, often the nearest whole number, to simplify presentation or calculation.
Simple Interest
Simple interest is a calculation of interest that does not take into account the effect of compounding. Interest is applied only to the principal over a set period.
Monthly Basis
A timeframe or calculation done once every month or for each month.
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