An Excise Tax on Imported Items Is Known as A(n)

question 55

Multiple Choice

An excise tax on imported items is known as a(n)

• A) quota.
• B) tariff.
• C) export restriction.
• D) price ceiling.

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Definitions:

Savings Account

A deposit account held at a bank or other financial institution that provides principal security and a modest interest rate.

Annually

A term describing an event or calculation made once every year.

Discount Rate

The interest percentage utilized in calculating today's value of future cashflows.

Trust Agreement

A legal document that outlines the terms and conditions under which a trust is to be managed and specifies the rights and duties of the parties involved.