When Import Duties Are Paid, the _________________ Duty Is a Specified

question 42

Multiple Choice

When import duties are paid, the _________________ duty is a specified amount of the per unit weight or other quantity of the merchandise.

• A) ad valorem
• B) specific
• C) compound
• D) nontariff
• E) import

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Definitions:

Nominal Damages

A small monetary award (often one dollar) granted to a plaintiff when no actual damage was suffered or when the plaintiff is unable to show such loss with sufficient certainty.

Loss of the Bargain

The difference between the value of what was promised in a contract and what was actually delivered, potentially leading to damages in a breach of contract case.

Acted Wrongfully

Engaging in actions that are illegal, unethical, or contrary to established norms, often resulting in harm or disadvantage to others.

Fraudulently Represents

To falsely claim or present something in a way that intentionally deceives others.