Which of the Following Is an Example of a Nontariff

question 84

Multiple Choice

Which of the following is an example of a nontariff trade barrier?

• A) Compound duties
• B) Revenue tariffs
• C) Fees for administrative and custom entry procedures
• D) Specific duties
• E) Taxes imposed by governments on goods entering at its borders

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Definitions:

Consumer Surplus

The variance between the total price consumers intend to pay for a service or good and what they really pay.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that consumers are willing to purchase at various prices.

Willingness to Pay

The maximum amount a consumer is ready to spend on a good or service.

Consumer Surplus

The discrepancy between the amount consumers are prepared to pay for a product or service and the price they actually spend.