Which of the following is a fixed percentage of the value of an imported product as it enters the country?
A. Specific tariff
B. Ad valorem tariff
C. Nominal tariff
D. Effective tariff
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A tax of 20 cents per unit of imported cheese would be an example of:
A. Compound tariff
B. Effective tariff
C. Ad valorem tariff
D. Specific tariff
A tax of 15 percent per imported item would be an example of:
Ad valorem tariff
B. Specific tariff
C. Effective tariff
D. Compound tariff
Which type of tariff is not used by the Amercian government?
A. Import tariff
B. Export tariff
C. Specific tariff
D. Ad valorem tariff
If we consider the impact on both consumers and producers, then protection of the steel industry is:
A. In the interest of the United States as a whole, but not in the interest of the state of Pennsylvania
B. In the interest of the United States as a whole and in the interest of the state of Pennsylvania
C. Not in the interest of the United States as a whole, but it might be in the interest of the state of Pennsylvania
D. Not in the interest of the United States as a whole, nor in the interest of the state of Pennsylvania
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