Which of the following refers to tariffs that are imposed strictly to raise money for the government?
A) Revenue tariffs
B) Protectionist tariffs
C) Quota tariffs
D) Subsidy tariffs
E) Labor tariffs

Question

Quizplus · Accepted Answer

Revenue tariffs are tariffs imposed by a government in order to raise revenue, usually for the purpose of financing government expenditure or to fund specific public projects such as infrastructure development or education. Protectionist tariffs, on the other hand, are tariffs imposed with the aim of protecting domestic industries from foreign competition by making imported goods more expensive, while quota tariffs involve setting a limit on the quantity of a particular good that can be imported. Subsidy tariffs involve providing a subsidy or financial assistance to domestic producers in order to help them compete with foreign producers, while labor tariffs are tariffs that are specifically imposed on products from countries with lower labor standards or wages in order to discourage the outsourcing of jobs.

Which of the Following Refers to Tariffs That Are Imposed