The Tariff on Certain Goods Is Based on the Percentage

question 69

Multiple Choice

The tariff on certain goods is based on the percentage of the determined value of the item being imported. What type of tariff is this?

• A) compound duty
• B) quota duty
• C) specific duty
• D) reciprocal duty
• E) ad valorem duty

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Definitions:

Nonpayers

Individuals or entities that do not contribute payments towards a service or good from which they benefit.

Public Good

A good that is non-excludable and non-rivalrous, meaning that its consumption by one individual does not reduce availability to others.

Benefits

Advantages or gains that are derived from a specific action, policy, or product, including intangible and tangible outcomes.

Excludable

A characteristic of a good or service that means it is possible to prevent people who have not paid for it from having access to it.