Question

Tariffs are taxes imposed on _________________.

A. imported products
B. exported products
C. hazardous goods
D. surplus goods

Answer 1

Tariffs are taxes imposed on imported products. They are used by many nations to protect domestic industries and raise revenue.

Step-by-step explanation:

Tariffs are taxes imposed on imported products. Many nations use these taxes to raise revenue while "protecting" domestic industries by raising the prices of foreign goods. For example, in recent years large, flat-screen televisions imported to the U.S. from China have faced a 5% tariff rate.