When import duties are paid, the _____ duty is a percentage of the value of the merchandise.
A)ad valorem
B)specific
C)compound
D)nontariff
E)import

Name: When import duties are paid, the _____ duty is a percentage of the value of the merchandise. A)ad valorem B)specific C)compound D)nontariff E)import
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Question

Quizplus · Accepted Answer

Ad valorem duty is calculated as a percentage of the value of the imported goods, making it directly proportional to the price of the merchandise.

When Import Duties Are Paid, the _____ Duty Is a Percentage