Tariffs:

Question

Tariffs:

Quizplus · Accepted Answer

Tariffs are taxes imposed on imported goods, and they can be imposed for different reasons. Revenue tariffs are imposed to generate revenue for the government, while protectionist tariffs are imposed to protect domestic industries from foreign competition. Import quotas, on the other hand, limit the quantity of a particular good that can be imported into a country, while excise taxes are taxes imposed on domestically produced goods. Per unit subsidies are financial incentives given by the government to promote exports, and they are not the same as tariffs.