A tax of 15 percent of the value (price) per imported item would be an example o

Question

A tax of 15 percent of the value (price) per imported item would be an example of:

A) Ad valorem tariff
B) Specific tariff
C) Effective tariff
D) Compound tariff

7.

With a specific tariff, the degree of protection afforded domestic producers varies directly with changes in import prices.

A) True
B) False

8.

A tax of $0.20 cents per unit of imported cheese would be an example of:

A) Ad valorem tariff
B) Effective tariff
C) Compound tariff
D) Specific tariff

9.

Which of the following is true concerning a specific tariff?

A) It is exclusively used by the U.S. in its tariff schedules.
B) It refers to a flat percentage duty applied to a good's market value.
C) It is plagued by problems associated with assessing import product values.
D) It affords less protection to home producers during eras of rising prices.

10.

Suppose an importer of steel is required to pay a tariff of $20 per ton plus 5 percent of the value of steel. This is an example of a (an):

A) Specific tariff
B) Ad valorem tariff
C) Compound tariff
D) Tariff quota

Explanation / Answer

6)

A) Ad valorem tariff

7)

B) False

8)

D) Specific tariff

9)

D) It affords less protection to home producers during eras of rising prices.

10)

C) Compound tariff

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.