Which of the Following Is an Example of a Tariff

question 259

Multiple Choice

Which of the following is an example of a tariff?

• A)A regulation specifying that each imported Yamaha motorcycle must meet certain emission exhaust guidelines.
• B)A limit on the total number of Yamaha motorcycles imported from Japan.
• C)A tax of 5% of the value of each Yamaha motorcycle imported from Japan.
• D)A tax of $250 on each Yamaha motorcycle produced in the United States.

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Definitions:

Liquidated Damages Provision

A contractual clause that determines the amount of damages payable if one of the parties breaches the agreement.

Penalty Provision

A clause in a contract or law that specifies a penalty for non-compliance or violation of its terms.

Non-Breaching Seller

A party in a contract that has not failed to fulfill any term of the agreement, in contrast to a breaching party who has failed to perform as promised.

Remedies

Remedies in legal terms refer to the means by which a right is enforced or the violation of a right is prevented, redressed, or compensated.