A tariff is

a limit on the quantity of importsCorrect answerYour answera subsidy on exported goodsCorrect answerYour answera loan from a foreign bankCorrect answerYour answera tax on imported goodsCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer D

Correct answer: D

A tariff makes imports dearer, so buyers turn to goods made at home.

Worth noting

A limit on the quantity of imports is a quota.

Concept: Tariffs and quotas
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsImport substitution, tariffs and quotas

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Ten questions from Industry & Trade, 1950–90, at your own pace.

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Ten questions from Industry & Trade, 1950–90, at your own pace.

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A tariff is

Explanation