Question
Which of the following barriers to trade would help a government raise revenue?
A.
embargoing all goods from another country
B.
imposing a quota on certain types of goods
C.
imposing a tariff on imported goods
D.
embargoing trade in certain types of goods
A.
embargoing all goods from another country
B.
imposing a quota on certain types of goods
C.
imposing a tariff on imported goods
D.
embargoing trade in certain types of goods
Answers
GPT-4o mini
C. imposing a tariff on imported goods
A tariff is a tax levied on imported goods, and it generates revenue for the government. In contrast, an embargo (A and D) prohibits trade and does not generate revenue, while a quota (B) limits the quantity of goods that can be imported but does not directly generate revenue for the government.
A tariff is a tax levied on imported goods, and it generates revenue for the government. In contrast, an embargo (A and D) prohibits trade and does not generate revenue, while a quota (B) limits the quantity of goods that can be imported but does not directly generate revenue for the government.