Asked by Michaela Pfaff on May 04, 2024
Verified
Excise taxes on imported goods that help shield domestic producers of the good are called
A) protective tariffs.
B) import quotas.
C) revenue tariffs.
D) voluntary export restrictions.
Imported Goods
Products or services brought into one country from another, contributing to a country's supply of goods, affecting domestic markets, trade balances, and consumer choices.
Protective Tariffs
Taxes imposed on imported goods to protect domestic industries from foreign competition by making the imported goods more expensive.
Domestic Producers
Manufacturers or providers of goods and services within a country's own borders, as opposed to foreign producers.
- Gain an understanding of the reasons behind and the consequences of implementing excise taxes, protective tariffs, revenue tariffs, import quotas, and voluntary export restrictions.
Verified Answer
ZK
Zybrea KnightMay 06, 2024
Final Answer :
A
Explanation :
Protective tariffs are taxes on goods imported into a country to protect domestic producers from foreign competition. These tariffs make foreign goods more expensive, making domestic goods more attractive to consumers. Protective tariffs are a form of trade barrier that can be used to promote domestic industries.
Learning Objectives
- Gain an understanding of the reasons behind and the consequences of implementing excise taxes, protective tariffs, revenue tariffs, import quotas, and voluntary export restrictions.