A Lump - Sum Tariff Is

question 34

Multiple Choice

A lump - sum tariff is

• A)a fixed fee that an importing firm must pay the domestic government in order to have the legal right to sell the product in the domestic market.
• B)the fee an importing firm must pay to the domestic government on each unit it brings into the domestic market.
• C)a restriction limiting the quantity of imported goods that can legally enter a domestic market.
• D)none of the statements associated with this question are correct.

---

Definitions:

Merchandising Business

A business model that involves purchasing products at wholesale prices and selling them at retail prices to earn a profit.

Cost of Goods Sold

An accounting term that refers to the direct costs attributable to the production of the goods sold by a company, including the cost of materials and labor.

Professional Service Firms

Businesses that provide specialized expertise or services to clients, such as consulting, accounting, law, and engineering services.

Chargeout Rates

The rate or price that businesses charge external clients for services or goods, typically used in professional sectors to bill hours worked.