A Tariff Expressed as a Fixed Percentage of the Value

question 4

Multiple Choice

A tariff expressed as a fixed percentage of the value of a traded commodity is a(n) :

• A)export tariff
• B)ad valorem tariff
• C)compound tariff
• D)import tariff

---

Definitions:

Flavour

The distinctive taste and aroma of food or drink, stemming from its ingredients and preparation methods.

Representativeness Heuristic

A cognitive shortcut used in decision-making that relies on comparing the similarity of current situations to stereotypes or prototypes.

Cognitive Tendency

Refers to habitual patterns or biases in thinking that can influence judgment and decision-making.

Typical Prototype

An ideal or standard example of a particular category that embodies the most common and salient features of that category.