A Tariff Is a Tax

question 38

Multiple Choice

A tariff is a tax

• A) on an imported good.
• B) imposed on all traded goods.
• C) on an exported good.
• D) imposed on people's income.
• E) imposed on the difference between the value of the goods a firm imports and the value of the goods it exports.

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Definitions:

Loan Balance

The amount of money that remains to be paid on a loan.

Student Loans

Money borrowed to pay for education expenses, which must be repaid with interest.

Principal

The initial sum of money borrowed in a loan or put into an investment, exclusive of any interest or dividends.

Student Loans

Loans offered to students to help cover post-secondary education expenses, which typically have favorable interest rates compared to other types of loans.