If a protective tariff is placed on an imported product,the added cost will go to the government.
The goal of protective tariffs is to raise the retail price of imported products so that domestic products will be more competitive.Revenue tariffs are designed to raise money for the government.

Question

Quizplus · Accepted Answer

Protective tariffs are designed to protect domestic industries from foreign competition by making imported products more expensive. The goal is not to generate revenue for the government, but to provide a level playing field for domestic producers. Revenue tariffs, on the other hand, are intended to generate income for the government by imposing taxes on imported goods.

If a Protective Tariff Is Placed on an Imported Product,the