A tariff is a tax imposed on imported goods and services by a country's government in order to protect domestic industries from foreign competition or to raise revenue. It is not a tax on financial transactions, a result of a treaty, a penalty imposed on importers of capital, or an agreement to limit trade.

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A Tariff Is

Question 81

Multiple Choice

A tariff is

A) a tax on financial transactions
B) a tax on either imports or exports
C) the result of a treaty
D) a penalty imposed on importers of capital
E) an agreement between countries to limit trade

Correct Answer: