What Is the Difference Between a Specific Tariff and an Ad

question 71

Multiple Choice

What is the difference between a specific tariff and an ad valorem tariff?  

• A) A specific tariff is a set amount of money per unit of a product, while an ad valorem tariff is a set percentage of product price. 
• B) A specific tariff is a set percentage of product price, while an ad valorem tariff is a set amount of money per unit of a product. 
• C) A specific tariff names a particular good to which the tariff applies, while an ad valorem tariff applies to large classes of products. 
• D) A specific tariff applies only to imports, while an ad valorem tariff applies only to exports.

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Definitions:

Social Exchange Perspective

A theoretical framework suggesting social behavior results from an exchange process aiming to maximize benefits and minimize costs.

Symbolic Interactionists

Scholars and theorists who study how people use symbols and interactions to create social realities and identities.

Roles

The behaviors, obligations, and privileges attached to a social status or position.

Family Development Perspective

A theoretical framework that studies the changes families go through over time, including lifecycle stages and transitions.