Asked by stefan quintana on May 03, 2024
Verified
A tariff can best be described as
A) an excise tax on an imported good.
B) a government payment to domestic producers to enable them to sell competitively in world markets.
C) an excise tax on an exported good.
D) a law that sets a limit on the amount of a good that can be imported.
Tariff
A tax imposed by a nation on an imported good.
Excise Tax
An excise tax is a tax levied on the sale of specific goods or services, such as tobacco, alcohol, and fuel, often intended to discourage their use or generate revenue.
Imported Good
A product or service brought into one country from another for the purpose of selling it.
- Acquire insight into the intent and outcomes of excise taxes, protective tariffs, revenue tariffs, import quotas, and voluntary export restrictions.
Verified Answer
ZK
Zybrea KnightMay 05, 2024
Final Answer :
A
Explanation :
A tariff is a tax placed by a government on goods entering a country. Specifically, it is an excise tax on an imported good.
Learning Objectives
- Acquire insight into the intent and outcomes of excise taxes, protective tariffs, revenue tariffs, import quotas, and voluntary export restrictions.