USA HISTORY

THE ROAD TO REVOLUTION 1700 1774

THE BOSTON TEA PARTY INTOLERABLE ACTS FIRST CONTINENTAL CONGRESS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
What is a tariff?
A
A tax on the transportation of goods.
B
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C
A tax that goes to Spain.
D
A tax that is only able to be put on tea.
E
A tax that is only there if the Atlantic ocean was crossed.
Explanation: 

Detailed explanation-1: -What is a Tariff? A tariff refers to the tax imposed by the government on imported goods from other countries. Tariff is imposed majorly to protect the domestic producers, but the government also imposes tariffs to reduce imports from other countries, thereby promoting the use of domestic products.

Detailed explanation-2: -A tariff or duty (the words are used interchangeably) is a tax levied by governments on the value including freight and insurance of imported products. Different tariffs applied on different products by different countries.

Detailed explanation-3: -Tariffs are taxes imposed on the imports by a country for providing protection to its domestic industries.

Detailed explanation-4: -Tariffs are taxes charged on the import of goods from foreign countries. While historically tariffs were used as a source of revenue for governments, they are now used mainly to protect domestic industries from foreign competition.

Detailed explanation-5: -tariff, also called customs duty, tax levied upon goods as they cross national boundaries, usually by the government of the importing country. The words tariff, duty, and customs can be used interchangeably.

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