What is a tariff?

Question

Incorrect answer A. a tax on exports
Correct answer B. a tax on imports
Incorrect answer C. a bonus to producers
Incorrect answer D. a rebate for consumer

Answer 1

B. a tax on imports

Answer 2

explain why it's B

Answer 3

A tariff is a tax imposed on imported goods by the government of the importing country. The purpose of a tariff is to protect domestic producers from foreign competition and to raise revenue for the government. Tariffs can increase the cost of imported goods, making them less competitive with domestically produced goods. This can lead to increased demand for domestically produced goods, supporting domestic industries and possibly creating jobs. Therefore, option B is the correct answer.