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revenue and protective tariffs?
please briefly describe revenue tariffs and protective tariffs.
what were the main differences
please describe in like 4 or 5 sentences
(i think we're talking about the 1800's, the Jackson Era, i think)
thank you
1 Answer
- Anonymous1 decade agoFavorite Answer
Revenue tariffs are designed to raise money for the government (revenue.) They serve the same function as sales tax does when you purchase something domestically (within the country.) Revenue tariffs are generally quite low since they are designed to ENCOURAGE people to buy the foreign product, since the more that are sold the more money the government makes.
A protective tariffs is a PROHIBITIVE tariffs designed to discourage people from buy foreign products and buying instead from domestic manufacturers. Protective tariffs are generally VERY HIGH in price since the government does NOT want you buy these items.
And there you have it.