Which of the following is false about tariffs? A. They are taxes levied on both imports...
Which of the following is false about tariffs?
A. They are taxes levied on both imports and exports.
B. They are taxes only levied on imports.
C. A significant reason taxes are placed on imports is to protect domestic producers from foreign competition.
D. Tariffs are an important source of revenue for the government.
Homework Answers
Answer ) Option A
Tariffs are imposed only on imports, not on exports.
The sole purpose of imposing tariff is to restrict the quantity of imports in the home country by raising their prices and making them costlier.
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Which of the following is false about tariffs?
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