If a Protective Tariff Is Placed on an Imported Product,the

question 130

True/False

If a protective tariff is placed on an imported product,the added cost will go to the government.
The goal of protective tariffs is to raise the retail price of imported products so that domestic products will be more competitive.Revenue tariffs are designed to raise money for the government.

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Definitions:

Winding Up

The process of closing down a company by settling its liabilities and distributing any remaining assets to its shareholders.

Converting Assets

The process of changing assets from one form to another, often from non-liquid assets into cash or cash equivalents.

Confession Of Judgment

A legal agreement in which a debtor consents to a judgment against them, allowing the creditor to obtain a judgment without undergoing the standard court process.

Sale Of Office Computer

The process of selling a computer that is considered as an asset or property of an office or business.