Term a tax or duty rebate on imported goods that are exported at a later date ?
Correct answer: D. Drawback
- A. Duty
- B. Custom
- C. Rebut
- D. Drawback
Explanation
A drawback is a refund or rebate of customs duty paid on imported goods when those goods are later exported, often after processing. The term “rebut” is unrelated to customs taxation.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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