A tariff is a
Blank
______ imposed on a product imported into a country.

Question

A tariff is a 
Blank
______ imposed on a product imported into a country.

BlackTom AI · Accepted Answer

The question asks us to fill in the blank to complete the statement: 'A tariff is a _____ imposed on a product imported into a country.'

Option 1: 'boycott or embargo' – A boycott or embargo involves restricting trade through collective refusal or government action to halt trade with a country or entity. This is not a tariff, which is a charge or tax on imported goods. Therefore this option describes a trade barrier method rather than a tariff.

Option 2: 'quota' – A quota sets a numerical limit on how much of a good can be imported. While it is a form of protectionist trade policy, it is not a tariff; tariffs are taxes, whereas quotas restrict quantity. The distinction is important for how each policy affects prices and supply.

Option 3: 'currency' – Currency refers to money in circulation or exchange rates. It has no direct relationship to the concept of a tariff, which is a tax or duty. This option is not relevant to the definition of a tariff.

Option 4: 'tax' – A tariff is correctly defined as a tax or duty levied on goods as they cross national borders, specifically on imports. This aligns with standard economic definitions of tariffs as revenue-raising or protective charges applied to imported products.

In summary, the statement is describing a tax levied on imports, which matches the concept of a tariff. The other options describe different trade practices or concepts that do not define a tariff.

A tariff is a Blank ______ imposed on a product imported into a country.

View Explanation

Log in for full answers

Similar Questions

When a nation removes tariffs on imported products that nation will

Question at position 37 Tariffs or duties are taxes imposed by governments on imported goodsTrueFalse

Government taxes on products or services entering a country that primarily serve to raise prices on imports are known as

Tariffs artificially goods' prices and goods' demand.

Why do tariffs sometimes cause demand for goods and services to decrease?

Government taxes on products or services entering a country that primarily serve to raise prices on imports are known as

What is a tariff?

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

More Practical Tools for Students Powered by AI Study Helper

Homework AI Solver

Stylized AI Paper Writer

Plagiarism Checker Assistant

Citation AI Academic Writing Tool

In-Class Translation Assistant

AI Note Generator

AI Quiz Answers

Past Exam Questions from University Test Bank

Smart Practice Assistant

Adaptive Practice

Making Your Study Simpler

A tariff is a Blank ______ imposed on a product imported into a country.

View Explanation

Log in for full answers

Similar Questions

When a nation removes tariffs on imported products that nation will

Question at position 37 Tariffs or duties are taxes imposed by governments on imported goodsTrueFalse

Government taxes on products or services entering a country that primarily serve to raise prices on imports are known as

Tariffs artificially________ goods' prices and________ goods' demand.

Why do tariffs sometimes cause demand for goods and services to decrease?

Government taxes on products or services entering a country that primarily serve to raise prices on imports are known as

What is a tariff?

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

More Practical Tools for Students Powered by AI Study Helper

Making Your Study Simpler

Tariffs artificially goods' prices and goods' demand.