Which of the Following Statements Best Describes a Protective Tariff

question 202

Multiple Choice

Which of the following statements best describes a protective tariff?

• A) an excise tax that is usually applied to products that are not produced domestically in order to raise revenues for government
• B) an excise tax that is designed to put foreign producers at a competitive disadvantage in selling in domestic markets
• C) a specification of the maximum amount of a product that may be imported in any period of time that is often used to protect domestic producers of a product
• D) such activities as restricting the issuance of licenses for imported products or setting unreasonable standards for quality or safety in order to restrict imports and protect
• Domestic markets

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Definitions:

F-ratio

A statistic used to compare the variances between groups in an ANOVA test to determine if the groups come from populations with different variances.

Differences

Variations or distinct disparities between two or more entities, values, or conditions.

Null Hypothesis

A statistical assumption positing that there is no meaningful difference or association between specified attributes or variables.

One-way ANOVA

A statistical test that compares the means of three or more independent groups using variance analysis to determine if at least one group mean is significantly different from the others.