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The imposition of a tariff will typically ________ government revenue and ________ domestic production of the good.

Sagot :

The imposition of a tariff will typically increase government revenue and increase domestic production of the good.

What are the effects of a tariff?

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.

To learn more about imports, please check: https://brainly.com/question/26497713

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