Which type of tariff is based on a flat fee per unit of imported product?
Ad valorem
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Consider this: Import tariffs are usually ad valorem and are assessed as a percentage of the value of the imported product. LO 7.2 Know the instruments of government intervention.
Specific
That's correct.
Consider this: A specific tariff is used by a government to assign a flat fee or fixed amount per unit of the imported product, based on weight, volume, or surface area. LO 7.2 Know the instruments of government intervention.
Revenue
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Consider this: The purpose of revenue tariffs is to raise money for the government, and results in a steady flow of revenue. LO 7.2 Know the instruments of government intervention.