A tariff is ________.
A)a law that a government uses to regulate products that are imported into the country
B)the maximum amount of a product that can be imported or exported
C)a prohibition or suspension of foreign trade of specific imports or exports
D)a duty, or tax, that a government puts on products that are imported into the country

Question

Quizplus · Accepted Answer

A tariff is a duty or tax that a government puts on products that are imported into the country. It is used to regulate the flow of goods and to protect domestic industries by making imported goods more expensive and less competitive. Tariffs can be ad valorem (a percentage of the value of the product) or specific (a fixed amount per unit).

A Tariff Is ________