When import duties are paid, the _________________ duty is a specified amount of the per unit weight or other quantity of the merchandise.
A) ad valorem
B) specific
C) compound
D) nontariff
E) import

Question

Quizplus · Accepted Answer

Specific duty is a predefined amount of duty that needs to be paid for a specific quantity of merchandise. Ad valorem duty, on the other hand, is a percentage of the merchandise value. Compound duty is a combination of both specific and ad valorem duties. Nontariff and import are not types of duties.

When Import Duties Are Paid, the _________________ Duty Is a Specified