A tax placed on imports is known as
A) voluntary restraint agreement.
B) tariff.
C) quota.
D) infant industry.

Question

Quizplus · Accepted Answer

A tax placed on imports is known as a tariff. A voluntary restraint agreement is an agreement between two countries to limit the quantity of goods being exported or imported, a quota is a limit on the number of goods that can be imported or exported, and an infant industry refers to a new industry that is protected by the government to help it grow and compete.

A Tax Placed on Imports Is Known as