Question

Select the items that describe a tariff.

tax on an imported good
provides government revenue
can cause other countries to impose tariffs
reduces monopoly behavior

Answer 1

By definition, a tariff is a tax on exports or imports, or sometimes referred to as the international trade tariff. The item that best describe a tariff is that it is the "tax on an imported good." Tariffs are imposed to a certain country or place in order for the exporter or importer to pay the entry of their goods.

Answer 2

The answer is:

tax on an imported good

provides government revenue

can cause other countries to impose tariffs

reduces monopoly behavior

Tariff is being done in order To make the price of imported goods become higher as they enter the local markets, and the income from tariffs would be allocated to the government budget.

Because tariffs tend to reduce other country's national income, they tend to retaliate and impose the same tariff to the products from our country. Since it makes the product become more expensive, it allow many local companies to compete with the imported products, which reduce monopoly behavior.