Specific Tariffs Are

question 108

Multiple Choice

Specific tariffs are

• A) levied as a proportion of the value of the imported good.
• B) government payment to domestic producers.
• C) in the form of manufacturing or production requirements of goods.
• D) levied as a fixed charge for each unit of a good imported.

---

Definitions:

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent and salaries.

Relevant Range

The span of activity or volume level within which the assumptions about fixed and variable costs are expected to hold true.

Direct Product Cost

The sum of all costs directly associated with the production of a product, including materials and labor.

Production Line Workers

Employees who work on the manufacturing line, directly involved in producing goods.