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Economics
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3 Nov 2020

2. A tariff is a tax on ________ .

a. domestic goods and services

b. foreign goods and service

c. quality of goods

d. None of the above 

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Microeconomics
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Understanding Protectionism
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Raushan Raj
Raushan RajLv8
3 Nov 2020

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Related questions

A countervailing duty is a tariff that is levied to counteract:

A. DUmping of goods in the domestic market

B. Sudden surge of imports which hurt a domestic industry

C. Subsidies given to foreign firms by their own governments

D. The tariff on domestic goods that are enacted by foreign governments

Tariffs and quotas both raise the price of foreign goods to domestic consumers. What is the difference between the efforts of a tariff and the effects of quota on the following?

A. the domestic government

B. foreign producers

C. domestic producers

Gross domestic product is officially measured by adding together the:

a. quantity of each good and service produced by US residents 

b. market value of all final goods and services produced within a nation's borders.

c. quantity of all goods and services produced by US-owned citizens.

d. None of the above answers are correct 

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