Designed to raise revenue or protect domestic firms

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Reference no: EM131791710

1) A tax on an imported product designed to raise revenue or protect domestic firms is referred to as a(n) ________.

A) exchange

B) excise

C) fine

D) quota

E) tariff

2) A country may place a limit on the volume of imported citrus fruit that is allowed. This is an example of a(n) ________.

A) quota

B) tariff

C) customs duty

D) fine

E) excise duty

Reference no: EM131791710

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