A Tariff Is a Tax on Imports

question 39

True/False

A tariff is a tax on imports.

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Definitions:

Future Transfer

A financial arrangement or transaction planned to be executed at a future date.

Future Sacrifice

The giving up of future economic benefits as part of a transaction or financial obligation, often related to expenses or liabilities that will result in a decrease in assets or an increase in other liabilities.

Legally Enforceable

A condition where a contract or agreement has terms that can be compelled or upheld by law, granting parties the ability to seek legal remedies in case of breach.

Probable Future Transfer

An anticipated movement of assets, liabilities, or ownership interests that is likely to occur based on current conditions or known events.