If a commodity X is subject to an import duty of 25% ad valorem, the nominal tariff is _________.Select one:a.0.5b.0.25c.0.125d.0.025
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Solution 1
The answer is b. 0.25. An ad valorem tariff is a percentage of the value of the good that is being imported. So, if a commodity X is subject to an import duty of 25% ad valorem, the nominal tariff is 0.25 or 25%. Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem. Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to
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