Asked by Margot Rochester on May 02, 2024

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An excise tax on imported items is known as a(n)

A) quota.
B) tariff.
C) export restriction.
D) price ceiling.

Excise Tax

A tax levied on specific goods, services, or transactions, often with the aim of reducing their consumption or raising revenue.

Imported Items

Goods brought into a country from abroad for sale.

Tariff

A tax imposed by a government on goods and services imported from other countries to protect domestic industries or to generate revenue.

  • Comprehend the significance of tariffs, quotas, and non-tariff barriers within international trade.
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PJ
Peter JezusekMay 07, 2024
Final Answer :
B
Explanation :
An excise tax on imported items is known as a tariff. A quota is a limit on the quantity of a certain good that can be imported. An export restriction limits the amount of certain goods that can be exported. A price ceiling is a legal limit on the price of a good or service.