Multiple Choice
Which of the following statements best describes a protective tariff?
A) an excise tax that is usually applied to products that are not produced domestically in order to raise revenues for government
B) an excise tax that is designed to put foreign producers at a competitive disadvantage in selling in domestic markets
C) a specification of the maximum amount of a product that may be imported in any period of time that is often used to protect domestic producers of a product
D) such activities as restricting the issuance of licenses for imported products or setting unreasonable standards for quality or safety in order to restrict imports and protect domestic markets
Correct Answer:
Verified
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