The Two Basic Types of Tariffs Are

question 221

Multiple Choice

The two basic types of tariffs are

• A) goods and services.
• B) general and limited.
• C) comparative and absolute.
• D) revenue and protective.

---

Definitions:

Discount Rate

The rate of interest that central banks impose on credits extended to commercial banks and other financial entities.

Reserve Requirements

Regulations set by central banks determining the minimum amount of reserves that must be held by a commercial bank, a repeat of the Fed's specific requirement but applicable globally.

Depository Institutions Deregulation

The legislative measures taken to reduce regulation over banks and other depository institutions to enhance their ability to compete and innovate.

Monetary Control Act

A law intended to regulate banking and manage the money supply, possibly referring to specific legislation like the Monetary Control Act of 1980 in the United States, which influenced the Federal Reserve's control over monetary policy.