Asked by Jacob Rucker on May 31, 2024
Verified
An excise tax on an imported good that is not produced domestically is called a
A) protective tariff.
B) import quota.
C) revenue tariff.
D) voluntary export restriction.
Excise Tax
A tax on specific goods, such as alcohol and tobacco, often levied at the manufacturing level.
Imported Good
A product or service that is brought into one country from another, making it available for domestic consumption or use.
Protective Tariff
A tariff designed to shield domestic producers of a good or service from the competition of foreign producers.
- Understand the purpose and effects of excise taxes, protective tariffs, revenue tariffs, import quotas, and voluntary export restrictions.
Verified Answer
ZK
Zybrea KnightJun 05, 2024
Final Answer :
C
Explanation :
A revenue tariff is a tax on imported goods that is only intended to generate income for the government, rather than protecting domestic industries or reducing imports. This type of tax is often levied on goods that are not produced domestically, such as certain luxury products, and can be seen as a way for the government to collect additional revenue without harming domestic industries.
Learning Objectives
- Understand the purpose and effects of excise taxes, protective tariffs, revenue tariffs, import quotas, and voluntary export restrictions.