Which of the following terms refers to a tax levied by a foreign government against certain imported products to raise revenue or to protect domestic firms?
A) embargo
B) tariff
C) excise
D) exchange control
E) quota

Question

Quizplus · Accepted Answer

A tariff is a tax levied by a foreign government on imported products to raise revenue or protect domestic firms. Embargo is a complete ban on imports or exports, excise is an indirect tax on certain goods, exchange control refers to restrictions on the conversion of one currency to another, and quota is a physical limit on the quantity of a good that can be imported.

Which of the Following Terms Refers to a Tax Levied