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Tariffs, that is taxes on imports or exports, have been part of the policy toolkit since biblical times; and some attribute the economic depression in
Tariffs, that is taxes on imports or exports, have been part of the policy toolkit since biblical times; and some attribute the economic depression in the 1930s to high tariffs. The United States and many other nations reduced tariffs to negligible rates, but recently that trend has seen some reversals. Under the AS-Ad model, (aggregate supply and demand) how would the curve be impacted if tariffs increased
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