A Tariff Is

question 3

Multiple Choice

A tariff is

• A) a government imposed limit on the amount of a good that can be exported from a nation.
• B) a government imposed barrier that sets a fixed limit on the amount of a good that can be imported into a nation.
• C) a tax on a good imported into a nation.
• D) an agreement between governments to limit exports from a nation.

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Definitions:

Heuristics

Mental shortcuts or rules of thumb that simplify decision making.

Mindless Processing

Describes cognitive activities that occur without conscious awareness or effort, often in response to familiar stimuli.

Automatic Pilot

A mode of operation where tasks are performed unconsciously or without active thought, often used metaphorically to describe habitual or rote behavior.

Mishaps

Unfortunate accidents or bad luck incidents that result in damage or injury.