alleryA TARIFF is best described as:
AA subsidy given by government to local producers
BA quota that limits the quantity of goods imported
CA standard that imported goods must meet for safety
DA tax on imported goods that raises their domestic price
Answer & Solution
Correct answer: D. A tax on imported goods that raises their domestic price
A tariff is a tax on imported goods, used by governments to protect domestic industries by raising the import price.
Quotas (quantity limits) and standards (quality norms) are other forms of trade barriers.
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