What explains the difference between a tax and a tariff?

March 28, 2011 by admin · 1 Comment
Filed under: Bob's World 

What explains the difference between a tax and a tariff?

A. Taxes are paid on domestic economic activity while tariffs are paid on international trade.
B. Taxes are a form of public revenues while tariffs are a form of public debt.
C. Taxes are charged on income and wealth while tariffs are charged on sales.
D. Taxes are spent on social support programs while tariffs are spent on national defense.


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One Response to “What explains the difference between a tax and a tariff?”
  1. The Corinthian says:

    a – A tariff is a tax on goods upon importation.

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