An excise tax that is applied to an imported product that is not at all produced domestically is called a(n)

Question

Quizplus · Accepted Answer

A revenue tariff is a tax on imported goods that is primarily designed to generate revenue for the government rather than to protect domestic industries. This type of tariff is applied to goods that are not produced domestically, so it does not directly affect domestic producers. Therefore, option B is the correct answer. Option A (protective tariff) is a tax on imported goods that is designed to protect domestic industries from foreign competition, and Option D (nontariff barrier) refers to barriers to trade that do not involve taxes or duties, such as quotas or technical regulations. Option C (import quota) refers to a limit on the amount of a particular good that can be imported into a country.

An Excise Tax That Is Applied to an Imported Product