The imposition of a tariff will typically increase government revenue and increase domestic production of the good.
<h3>What are the effects of a tariff?</h3>
A tariff is when a company charges an amount on the import of certain goods and services. The purpose of a tariff is to discourage the importation of certain goods and services and increase domestic production.
When a tariff is imposed, import falls and since import is a negative function of the gross domestic product, GDP increases. Also, the income of the government increases when tariffs are imposed.
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Answer:
Quantity of beef demanded will decrease by 12%
Explanation:
Data provided in the question:
Price elasticity of demand for beef, Ed = 0.60
Increase in the price of beef = 20%
Now,
Price elasticity of demand for beef,
Ed = [ Percentage change in Quantity ] ÷ [ Percentage change in price ]
or
0.60 = [ Percentage change in Quantity ] ÷ 20%
or
Percentage change in Quantity = 0.60 × 20%
or
Percentage change in Quantity = 12%
Also,
Price and Quantity are inversely proportional
Hence,
With the increase in price, the quantity will decrease
Therefore,
Quantity of beef demanded will decrease by 12%
Answer:
The answer is "No."
Explanation:
The anwer is "No" is because the amount $3,500.00 is a mean in the checking balance taken for many years.
Consequently, the mean checking balance for customers over the years have remained stable notwithstanding other available potion for withdrawal such as using Automated Teller Machine (ATM) cards for customers.
Answer: Changes in production and demand
Explanation:
Answer: Social
Explanation: In simple words, social marketing campaigns refers to the campaigns that uses commercial marketing techniques to aware and influence the behavior of a target audience with the ultimate goal of the benefit of society.
For example smokey the bear was initiated for wild fire prevention and keep america beautiful was initiated to spread awareness regarding keeping the environment clean.