By 2012, the Average Worldwide Tariff Had Fallen to About

question 90

Multiple Choice

By 2012, the average worldwide tariff had fallen to about:

• A) 35%.
• B) 25%.
• C) 15%.
• D) 7%.

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Definitions:

Personal Use

The use of a product, service, or property for an individual's private and non-commercial purposes.

Lessor

The party in a lease agreement who owns the property being leased out to another party, known as the lessee.

Finance Lease

A type of lease arrangement where the lessee assumes both the financial risks and rewards of asset ownership, typically involving long-term and non-cancellable terms.

Consumer Lease

A contract in which a lessee (user) pays to use goods (like a vehicle) for a fixed period without obtaining ownership.