Which of the following statements best describes a protective tariff?
A) An excise tax that is usually applied to products which are not produced domestically in order to raise revenues for government
B) An excise tax that is designed to put foreign producers at a competitive disadvantage in selling in domestic markets
C) A specification of the maximum amount of a product that may be imported in any period of time which is often used to protect domestic producers of a product
D) Such activities as restricting the issuance of licenses for imported products or setting unreasonable standards for quality or safety in order to restrict imports and protect domestic markets
Correct Answer:
Verified
Q62: An excise tax on imported items is
Q63: If the United States government were to
Q64: A tariff is a:
A) Tax
B) Price ceiling
C)
Q65: Q66: If a nation agrees to set an Q68: An import-licensing requirement, or import restrictions pertaining Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents![]()