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Question

- 9 -

9. The term tariff is BEST defined as the

(BI

(C)

(D)

amount of subsidies receivedbs local

exporters

amount of goods that can be imported

into a country

level oftax that is levied on imports

entering a country

common tax levied by countries on

member countries within a region

Leos 50 - 52 refer to the following diagram

Answer

Level of tax that is levied on imports entering a country.

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Tariff is a common tax levied by countries on imports entering a country. It is usually used to protect domestic industries from foreign competition. Tariffs are...