Tariffs Refer to

question 113

Multiple Choice

Tariffs refer to

• A)a reduction on or refusal to purchase goods from foreign nations with which a country has philosophical or ideological differences.
• B)government taxes on goods or services entering a country that primarily serve to raise prices on imports tariffs.
• C)a restriction placed on the amount of a product allowed to enter or leave a country.
• D)a minimum requirement for the purchase between two or more nations, of products or services.
• E)a refusal to purchase or exchange goods or services with another nation unless certain financial or ideological requirements have been satisfied.

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Definitions:

Fully Insured

This refers to a situation where an individual or entity has purchased enough insurance coverage to protect against anticipated losses or liabilities.

Design Patent

A legal protection granted to the unique visual qualities of a product's design.

Recover

The process of regaining possession, use, or control of something lost or taken away, or returning to a normal state after a disaster or setback.

Void Agreement

A contract or agreement that is not legally enforceable from the outset.