A tariff of ($250/import + 15% of the CIF value/import) is known as a(n) _____ tariff.
A) nonspecific
B) ad valorem
C) compound
D) specific
E) prohibitive

Question

Quizplus · Accepted Answer

A compound tariff is a combination of a specific tariff (a fixed fee per unit, in this case, $250 per import) and an ad valorem tariff (a percentage of the value, in this case, 15% of the CIF value).

A Tariff of ($250/import + 15% of the CIF Value/import)