A tariff is defined as:
a. a limit imposed on the quantity of imports.
b. a tax collected before exporting a product.
c. a discount given on an imported product.
d. a tax imposed on an imported product.
d
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A customs union is:
a. a group of countries that agrees there will be "no rules" about trade—anything goes. b. a group of countries that agrees to eliminate customs fees and containerized shipping charges on goods traded among them. c. a group of countries agreeing to eliminate barriers to trade between themselves but keeping tariffs in place against the rest of the world. d. a group of countries that eliminates trade barriers among themselves and erects a common tariff against all other nations.
An individual is structurally unemployed if
A) there is a recession and the individual is laid off. B) the individual wants to work just during certain months of the year. C) the individual quits a job in order to search for a better one. D) the individual lacks marketable job skills because technology has changed.