Answer to Question #72429 in Microeconomics for ruth

Question #72429
What is the primary function of tariff on industrial nations? In developing nations?
1
Expert's answer
2018-01-12T08:34:08-0500
Tariffs have three primary functions: to serve as a source of revenue, to protect domestic industries, and to remedy trade distortions.
Developing countries usually use the first two functions, but industrial countries use more the third one.

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