What term refers to a tax imposed on imported goods?

Prepare for the ICAP American History Exam. Dive into flashcards and multiple-choice questions with insightful hints and explanations. Get ready to ace your exam!

The term that refers to a tax imposed on imported goods is "tariff." A tariff is specifically designed to regulate international trade by raising the price of imported goods, making domestic products more competitive in the market. This can also generate revenue for the government and is often used as a tool for economic policy, influencing trade relations between countries.

While "duty" is often used interchangeably with "tariff," it can refer more broadly to any tax on goods, including both imported and exported goods. An "excise tax" is imposed on specific goods manufactured within a country, not on imports, typically applied to products like gasoline, tobacco, and alcohol. "Property tax" is a tax based on property ownership, levied on real estate and not related to trade or imports. Therefore, the use of "tariff" in the context of a tax on imports is the most precise and relevant terminology.

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