Which of the Following Statements About Tariffs Is True

question 14

Multiple Choice

Which of the following statements about tariffs is true?

• A) Retailers want to raise them
• B) Tariffs have never been used as a government fund raiser
• C) The World Trade Organization is responsible for the increase in the tariff rate
• D) Import tariffs have been used to shield domestic manufacturers from foreign competition
• E) Tariffs lower the cost of imported merchandise

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Definitions:

Cause Marketing

A partnership between a for-profit company and a nonprofit organization to mutually promote and benefit from social or charitable causes.

Cause Marketing

A strategy where businesses align with social issues or causes to increase brand awareness while also contributing to a social cause.

Societal Responsibility

The obligation of businesses to act in ways that benefit society at large, including ethical practices, sustainability, and community engagement.

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Involves the obligations and duties that an organization has towards its stakeholders, including customers, employees, investors, and the wider community, to act ethically and contribute to well-being.