as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
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give an example of how a country could use tariffs to increase its income
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a country could levy tariffs on imports to raise revenue. for example, if a country imports cars from another country, the government of the importing country could institute a tariff on the vehicles entering its borders. this tariff would add to the price of the cars, and thus generate income for the government of the importing country.
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