Which of the Following Statements Best Describes a Protective Tariff

question 314

Multiple Choice

Which of the following statements best describes a protective tariff?

• A)an excise tax that is usually applied to products that are not produced domestically in order to raise revenues for government
• B)an excise tax that is designed to put foreign producers at a competitive disadvantage in selling in domestic markets
• C)a specification of the maximum amount of a product that may be imported in any period of time that is often used to protect domestic producers of a product
• D)such activities as restricting the issuance of licenses for imported products or setting unreasonable standards for quality or safety in order to restrict imports and protect domestic markets

---

Definitions:

Social Destruction

The process by which the social fabric of a community or society is damaged or degraded, often through conflict, neglect, or adverse policies.

Creative Destruction

An economic theory that suggests that old industries or technologies are destroyed and replaced by new ones for economic growth and development.

Disruption

A significant disturbance or interruption to the normal flow or process, often leading to a need for adjustment or a new way of thinking.

Social Entrepreneurship

An approach to business where solving social problems and issues is as important as profitability, innovatively blending commercial and social objectives.