A(n)
Blank
______ is a tax levied on a good imported into a country.

Question

A(n) 
Blank
______ is a tax levied on a good imported into a country.

BlackTom AI · Accepted Answer

The question asks to identify the term for a tax placed on a good imported into a country.
Option 1: quota. A quota is a numerical limit on the quantity of a good that can be imported, not a tax. It restricts quantity, whereas a tariff is a tax used to raise revenue or protect domestic industries.
Option 2: escrow fee. An escrow fee is a charge related to holding funds by a third party during a transaction; it is not a tax on imports. It has nothing to do with government-imposed duties on imported goods.
Option 3: tariff. A tariff is exactly defined as a tax levied on goods imported into a country, typically used to raise revenue or shield domestic producers from foreign competition. This matches the concept described in the question.
Option 4: boycott. A boycott is a voluntary refusal to purchase certain goods or services, often for ethical or political reasons, and is not a tax or government levy on imports.
Thus, evaluating each option, tariff best fits the description of a tax on imported goods.

A(n) Blank ______ is a tax levied on a good imported into a country.

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A(n) Blank ______ is a tax levied on a good imported into a country.

View Explanation

Log in for full answers

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Tariffs artificially goods' prices and goods' demand.