An "Ad Valorem Tariff" Is a Lump-Sum or Fixed Amount

question 302

True/False

An "ad valorem tariff" is a lump-sum or fixed amount tax applied to a product.

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Definitions:

Justification

The process or reasoning behind why a claim or action is considered valid or acceptable.

Premise

An assertion or statement that forms the basis for a conclusion in an argument.

Conclusion

The final part of something, such as an argument or text, summarizing the main points or deduced results.

Assumption

A thing that is accepted as true or as certain to happen, without proof.