Question

The quantity and value of goods or services purchased from other countries and shipped to the United States.

a. Import tariff (duty)
b. Import quotas
c. Imports
d. Import dependence

Answer 1

Imports are the goods or services a country purchases from other countries. Import tariffs are taxes imposed on imported goods to raise revenue and protect domestic industries.

Step-by-step explanation:

Imports refer to the quantity and value of goods or services that a country purchases from other countries and brings into its own territory. It is an essential component of international trade and plays a significant role in a country's economy.

Example: If the United States buys cars from Japan, those cars are considered imports to the United States.

Import tariffs (also known as import duties) are taxes imposed by a government on imported goods. They are used to raise revenue and protect domestic industries by increasing the prices of foreign goods.

Example: If the United States imposes a tariff on imported steel, it will make steel from other countries more expensive, which may discourage import and protect the domestic steel industry.