Asked by
Kalynn Haley
on Oct 25, 2024
Verified
A tax on imported goods or services is a:
A) quota.
B) tariff.
C) nontariff barrier.
D) trade embargo.
Nontariff Barrier
Refers to any restriction, other than tariffs, that is used by countries to control the amount of trade across their borders, including quotas, embargoes, or regulations.
Trade Embargo
A government-imposed restriction on trade with a specific country or the exchange of specific goods.
Tariff
A tax imposed on imported goods to regulate trade by increasing the price of foreign products.
- Assess the repercussions of tariffs and other forms of trade barriers on national markets.
Verified Answer
AK
Learning Objectives
- Assess the repercussions of tariffs and other forms of trade barriers on national markets.