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What is a tax placed on goods from another country to protect the home industry?
protective tariff
What is the difference between a tariff and protective tariff?
A tariff is a tax on imports A protective Tariff is a tax on imports to protect an industry in your country by making the imported goods more expensive and less attractive to the consumer. A successful use of this can be seen in the history of Harley Davidson Motorcycles.
Who liked the protective tariff?
The South did not benefit from protective tariffs because most of their goods were bought from England. Northern factory owners, however, had an increase in sales because British goods were more expensive with the tariff.
I like some time into it first Congress to pass a protective tariff to encourage the growth?
It was Alexander Hamilton who urged Congress to pass a protective tariff to encourage the growth of manufacturing. Alexander Hamilton was one of the Founding Fathers of the United States.
What tariff type is used to protect a domestic industry?
A PROTECTIVE tariff is intended to artificially inflate prices of imports and protect domestic industries from foreign competition.
The southern economy was hurt by this protective tariff because?
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What is a tax placed on goods from another country to protect the home industry?
protective tariff
What was the high tariff to limit foreign competition?
A high tariff to limit foreign competition is called a protective tariff.
How might a country react to another country's protective tariff?
Sometimes a country suffering from a protective tariff will enact a tariff of its own on a product.
What is the purpose of protective tariff?
The purpose of a protective tariff. First of all, what is a protective tariff? It is a tax on imported goods (or goods that come into the country).So, a protective tariff would be one that protects the country from foreign competition. For example, the tariff of 1828. Northern prices were getting too high for the South to be able to pay, so instead the South bought its goods from other countries(England mainly). The Northern ecconomy was hurt because of this so Northern senators chose to place a tariff on all imported goods from foreign countries, thus protecting their industries.
What was the nickname that southerns gave to a protective tariff they opposed?
Tariff of abominations
First protective tariff?
1816
The purpose of a protective tariff?
tax
Was Thomas Jefferson for the protective tariff?
No
Was Hamilton for protective tariff?
yes he was
What was High tariff to limit foreign competition?
A high tariff that limits foreign competition is a protective tariff.
What is specialization restricted by in the global economy?
Protective tariffs
