A tariff is:
A) a payment to domestic producers to help them compete in international markets.
B) a mechanism for setting an absolute level on the number of units of a good that can be
C) a tax on a product being exported.
D) a tax on a product being imported.

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 and services, making them less competitive compared to domestic products.

A Tariff Is