A Tariff Is a Tax Placed on

question 100

Multiple Choice

A tariff is a tax placed on

• A)an exported good and it lowers the domestic price of the good below the world price.
• B)an exported good and it ensures that the domestic price of the good stays the same as the world price.
• C)an imported good and it lowers the domestic price of the good below the world price.
• D)an imported good and it raises the domestic price of the good above the world price.

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Definitions:

Subcontracted

The process of assigning part of the obligations and tasks of a primary contract to another party or contractor.

Valid Liens

Legally enforceable claims or rights against property to secure the payment of a debt or obligation.

Conditional Sale Agreement

A contract for the sale of goods where the purchase price is paid in installments and the ownership of the goods does not pass to the buyer until certain conditions, usually the full payment of the purchase price, are met.

Personal Property Security Registry

A public database where security interests in personal property (assets other than real estate) are registered to establish priority of claims for creditors.