The type of tariff that levies import duties that are set as a percentage of the value of the imported goods is known as the
A)ad valorem tariff
B)protective tariff
C)revenue tariff
D)flat-rate tariff

Question

Quizplus · Accepted Answer

An ad valorem tariff is a type of tariff that is set as a percentage of the value of the imported goods. This means that the tariff rate will vary depending on the value of the goods being imported. Ad valorem tariffs are used to generate revenue for the government, and they can also provide protection for domestic industries by making imported goods more expensive.

The Type of Tariff That Levies Import Duties That Are