Asked by Latroy Mayfield on May 18, 2024

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A tax on an imported good that raises its price is called a

A) tariff.
B) quota.
C) comparative advantage.
D) comparative disadvantage.

Tariff

A tax imposed by a government on goods and services imported from other countries, used to protect domestic industries from foreign competition.

Imported Good

A product or service that is brought into one country from another for sale or use.

  • Identify and explain the effects of tariffs, quotas, and other trade barriers on international trade.
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Marisa BalzanoMay 19, 2024
Final Answer :
A
Explanation :
A tariff is a tax imposed on imported goods, which increases their price and reduces their competitiveness in the domestic market. This policy is often used to protect domestic industries from foreign competition or to generate revenue for the government. A quota, on the other hand, limits the quantity of a specific good that can be imported, but it does not necessarily raise its price unless there is excess demand. Comparative advantage and disadvantage are concepts related to international trade, but they do not refer to specific policies or measures.