A tariff can best be described as
A. an excise tax on an imported good.
B. an excise tax on an exported good.
C. a government payment to domestic producers to enable them to sell competitively in world markets.
D. a law that sets a limit on the amount of a good that can be imported.
Answer: A
Economics
You might also like to view...
The real GDP data could be properly thought of as
a. an index of our economic well-being. b. a measure of the total wealth of a nation. c. an index of total output or productive activity. d. an index that measures the size of government.
Economics
The net export component of aggregate demand is defined as U.S.
A. imports minus U.S. exports. B. imports plus U.S. exports. C. exports minus U.S. imports. D. exports minus taxes and customs duties.
Economics