Suppose the United States decides to impose a $1,000 tax on every Japanese minivan sold in the United States. This is an example of:

Question

Quizplus · Accepted Answer

The $1,000 tax imposed on Japanese minivans sold in the United States is a tariff, which is a tax on foreign goods imported into a country. This measure is designed to protect domestic producers by making imported goods more expensive and less competitive in the domestic market.

Suppose the United States Decides to Impose a $1,000 Tax