What is a tariff?
A)A limit placed on the quantity of goods that can be imported into a country.
B)A tax imposed by a government on goods imported into a country.
C)A subsidy granted to importers of a vital input.
D)A health and safety restriction imposed on an imported product.

Question

Quizplus · Accepted Answer

A tariff is a tax that a government imposes on imported goods. It is designed to make imported products more expensive and less competitive with domestically produced goods. The purpose of a tariff is typically to protect domestic industries by making foreign products more expensive, or to raise revenue for the government.

What Is a Tariff