Which government action is designed to increase the cost of imported goods?

Multiple choice question for Basic of Economics. Select an option, then review the explanation below.

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Complete bans on certain importsRegulations limiting currency exchangeRestrictions on the quantity of imports allowedTaxes imposed on imported productsNone of the above

Explanation

Among the options, tariffs are taxes levied on imports specifically to raise their prices, making them more expensive. Embargoes stop imports entirely, foreign exchange controls limit currency use, and quotas restrict the volume but do not directly increase prices.

Practice related questions from the same subject.

1.Which of the following best describes deflation?
2.Under what condition can two nations benefit from engaging in international trade?
3.Which of the following represents a legitimate form of currency?
4.Which political ideology is best summarized by the phrase, "From each according to his ability, to each according to his needs"?
5.Which type of currency experiences a decline in its exchange rate due to a continuous balance of payments deficit?

Which government action is designed to increase the cost of imported goods?

Explanation

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