A tariff is
A) a government imposed limit on the amount of a good that can be exported from a nation.
B) a government imposed barrier that sets a fixed limit on the amount of a good that can be imported into a nation.
C) a tax on a good imported into a nation.
D) an agreement between governments to limit exports from a nation.

Question

Quizplus · Accepted Answer

A tariff is essentially a tax imposed by a government on goods that are imported into a country. This tax increases the cost of the imported goods, potentially making domestically produced goods more competitive in price. Options A, B, and D describe other forms of trade barriers or agreements, not tariffs.

A Tariff Is