Which of the following statements is incorrect?
A) An ad valorem tariff is expressed as a percentage of the value of the traded commodity
B) a specific tariff is expressed as a fixed sum of the value of the traded commodity.
C) export tariffs are prohibited by the U.S.Constitution
D) The U.S.uses exclusively the specific tariff
Correct Answer:
Verified
Q1: A small nation is one:
A)which does not
Q3: The imposition of an import tariff by
Q4: With ai=50%,ti=0,and t=20%,g is:
A)40%
B)20%
C)80%
D)0
Q5: If a small nation increases the tariff
Q6: The imposition of an import tariff by
Q7: The imposition of an import tariff by
Q8: The imposition of an optimum tariff by
Q9: The imposition of an import tariff by
Q10: The increase in producer surplus when a
Q11: The imposition of an import tariff by
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