A tariff of 20% plus $1 per unit on imported goods is called:
A) a specific tariff.
B) a complex tariff.
C) an ad valorem tariff.
D) a compound tariff.
E) CIF.

Question

Quizplus · Accepted Answer

A compound tariff combines two elements: a specific tariff (a fixed fee per unit) and an ad valorem tariff (a percentage of the value). This type of tariff is designed to provide a more nuanced protection or revenue mechanism compared to using just one type of tariff.

A Tariff of 20% Plus $1 Per Unit on Imported