A tariff is
A) a limit on the quantity of a good that can be imported into a country.
B) a tax on imports.
C) a government payment made to domestic firms to encourage exports.
D) a payment made by the government to producers of the product.

Question

Quizplus · Accepted Answer

A tariff is a tax imposed by a government on goods and services imported from other countries, which increases the price of imported goods, making them less competitive compared to domestic products.

A Tariff Is