Outlines of Political Science
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In our eReader you can find the full English version of the book. Read Outlines of Political Science Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Outlines of Political Science
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The confusion arises through a misunderstanding of the economic law of prices. Of course, it is true that a direct tax kvied upon any article is practically the same as an increase in its cost of production. If it costs $i to manufacture an arti- cle and the government imposes a tax of lo cents upon it, the effect of the tax is exactly the same as if the cost of the raw material or of the labor had been increased lo cents. The total cost is $i.io, no matter whether the additional lo cents is du...e to the tax or to any other added expenditure. But it does not necessarily follow from this that a duty of lo cents on an imported article would add 69 "JO OUTLINES OF POLITICAL SCIENCE lo cents to the price paid by the consumer. The duty might add ID cents to the price, or it might add anywhere fror.'. one to lo cents, or it might add nothing at all.
37. Economic Law of Prices. In order to see just how a tariff will affect prices under different circum- stances, it is important to understand the economic law of prices.
What to read after Outlines of Political Science?
You can find similar books in the "Read Also" column, or choose other free books by George Gunton to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The confusion arises through a misunderstanding of the economic law of prices. Of course, it is true that a direct tax kvied upon any article is practically the same as an increase in its cost of production. If it costs $i to manufacture an arti- cle and the government imposes a tax of lo cents upon it, the effect of the tax is exactly the same as if the cost of the raw material or of the labor had been increased lo cents. The total cost is $i.io, no matter whether the additional lo cents is du...e to the tax or to any other added expenditure. But it does not necessarily follow from this that a duty of lo cents on an imported article would add 69 "JO OUTLINES OF POLITICAL SCIENCE lo cents to the price paid by the consumer. The duty might add ID cents to the price, or it might add anywhere fror.'. one to lo cents, or it might add nothing at all.
37. Economic Law of Prices. In order to see just how a tariff will affect prices under different circum- stances, it is important to understand the economic law of prices.
What to read after Outlines of Political Science?
You can find similar books in the "Read Also" column, or choose other free books by George Gunton to read onlineMoreLess
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