Ad Valorem Tariffs on Imports Are Based on a Percentage

question 104

True/False

Ad valorem tariffs on imports are based on a percentage of an import's value,while specific tariffs are based on a lump sum per physical unit imported.

---

Definitions:

Proportion

A part, share, or number considered in comparative relation to a whole.

Insulin Deficiency

A medical condition where the body produces insufficient amounts of insulin, affecting blood sugar regulation.

Diabetes Mellitus

A disorder caused by insulin deficiency.

Pancreatitis

An inflammation of the pancreas, often caused by gallstones or excessive alcohol consumption, leading to abdominal pain.