Which of the Following Is an Example of a Specific

question 13

Multiple Choice

Which of the following is an example of a specific or flat tariff?

• A) A 15% tariff on the value of a shipment of t-shirts
• B) A $10 tariff on each barrel of petroleum
• C) A 20% discount on the value of peaches delivered in October, November, or December
• D) None of the above

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Definitions:

Welfare Dependency

A situation where individuals or families rely extensively on government assistance programs for their income over long periods.

Poverty Rate

The percentage of the population living below the national poverty line, which measures the minimum income level required to meet basic living needs.

Lower Three Quintiles

The bottom 60% of the population when divided by income or wealth, often used in analyses of income distribution.

Income

The monetary payment received by an individual or household for labor, investment, or other sources over a specific period.