Which statement is true about the first tariff on imported oil in the United States?

• A. It appeared in 1934
• B. It appeared in 1932
• C. It never existed
• D. It appeared in 1933

Answer: (B)

The question tests when the United States first imposed a tariff on imported oil. The first oil tariff was enacted in 1932, as part of protectionist measures during the Great Depression to shield domestic oil producers by raising duties on crude oil imports. This makes 1932 the correct year because earlier or later dates did not mark the initial introduction of an oil tariff. The option suggesting it never existed is incorrect, since historical records show the 1932 Oil Tariff Act establishing the duty on imports.