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For each hypothetical scenario, complete the first column in the following table by indicating whether the tariff described is more likely a protective tariff or
For each hypothetical scenario, complete the first column in the following table by indicating whether the tariff described is more likely a protective tariff or a revenue tariff. Tariff Type Scenario A. In response to concerns from business leaders, a legislator has designed a new tariff on raw materials used by many manufacturing firms. The legislator felt the new tariff was necessary based on input from the private sector that new discoveries of natural resources abroad would threaten to put domestic producers of raw materials out of business. To meet this goal, this tariff will charge $2,000 on every crate of the imported goods plus an additional 5% of the total value of the imported goods. B. In an effort to balance next year's budget, a senator has proposed a new tariff. She proposed the new tariff with a goal of raising a total of $100 million. To meet this goal, this tariff will charge $2,000 on every ton that is imported. Protective or Revenue Protective Ad valorem Revenue Compound Ad valorem Compound For each hypothetical scenario, complete the second column in the previous table by determining if the fees charged represe Specific em compound, or specific tariff
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