alleryStart learning →What is a tariff?
AA limit on the quantity of a good that may be imported
BA complete ban on importing or exporting a product
CA rule that favours domestic manufacturers and retailers
DA tax that a nation imposes on goods it imports
Answer & Solution
Correct answer: D. A tax that a nation imposes on goods it imports
1. A tariff is a tax imposed by a nation on imported goods.
2. A quantity limit on imports is an import quota, which is a nontariff barrier.
3. A complete ban on importing or exporting a product is an embargo.
4. A rule favouring domestic sellers is a buy-national regulation.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 3 "Competing in the Global Marketplace", section 3.3 Barriers to Trade_
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