A Major Purpose of Tariffs Is to

question 92

Multiple Choice

A major purpose of tariffs is to

• A) encourage imports.
• B) encourage exports.
• C) discourage imports.
• D) discourage exports.

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Definitions:

Doctrine of Privity

A principle in contract law stating that contracts are binding only upon the parties signing the contract and no third party can enforce or be bound by the contract.

Contract Law

The body of law that governs the formation, enforcement, and interpretation of contractual agreements.

Clear Evidence

Highly convincing or indisputable proof that supports a claim, allegation, or decision.

Negotiable Instrument

A formal document that promises to pay a certain sum of money, either upon request or at a specified date, with the right for the recipient to pass it on to someone else.