Question

v
6. A tariff expressed as either a specific or an ad valorem rate, whichever
is higher, is known as
(a) General tariff
b) Mixed tariff
(c) Compound tariff
(d) Countervailing tariff​

Answer 1

Answer:

The correct answer is c

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Answer 2

Option b is is the correct answer.

A tariff expressed as either a specific or an ad valorem rate, whichever is higher, is known as Mixed tariff.

1. Mixed tariff is a type of import tariff. Import tariff are the taxes imposed by the government on the imported goods.
2. Specific rate is a fixed tariff rate on a unit of good charged on the basis of weight or other measurement.
3. Ad valorem rate is a fixed percentage which is imposed on the value of a good.