Question

Which sentence below is tariff used correctly? A. All states charge a tariff B. A tariff is charged to mail a letter C. Americans are required to pay a tariff at the airport D. A tariff was added to the Chinese imports.

Answer 1

Answer:

D. A tariff was added to the Chinese imports.

Explanation:

In economics, Tariffs refers to a additional amount that a company need to pay to gain permission to sell their product in a certain country.

This could be seen in option D.

Typically, Tariffs will increase the amount of price needed entering the market. Because of this, the company that imported the product had to increase the price of their product.  This will make the imported products seems more univariable by the local customers.

This is why  Tariff is generally an effective measure to help local businesses compete with foreign businesses.