What is a tariff? a. A tax on imports paid by consumers b. A tax on imports paid by the government c. A tax on exports paid by consumers d. A tax on exports paid by the government
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A tariff is a tax imposed on goods when they are moved across a political boundary, typically between countries. Show more…
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A tariff is a A) tax on an exported good or service. B) tax on an imported good or service. C) subsidy on an exported good. D) subsidy on an imported good.
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The main difference between imposing a tariff and handing out licenses under an import quota is that a tariff increases a. consumer surplus. b. producer surplus. c. international trade. d. government revenue.
A country imposing a tariff can benefit in terms of social welfare if A. The terms-of-trade benefit exceeds the sum of production and consumption distortion loss. B. The tariff revenue exceeds the sum of production and consumption distortion loss. C. The consumer surplus loss is less than the producer surplus gain. D. The terms-of-trade benefit exceeds the consumer surplus loss.
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