Which of the following is an example of a specific or flat tariff?
A) A 15% tariff on the value of a shipment of t-shirts
B) A $10 tariff on each barrel of petroleum
C) A 20% discount on the value of peaches delivered in October, November, or December
D) None of the above

Question

Quizplus · Accepted Answer

A specific or flat tariff is a fixed amount of tax applied per unit of goods imported or exported. Option B is an example of a specific tariff as it applies a flat fee of $10 on each barrel of petroleum. Option A is an example of an ad-valorem tariff as it applies a percentage of the value of the goods imported. Option C is an example of a seasonal discount, not a tariff.

Which of the Following Is an Example of a Specific