The difference between an import quota and a tariff that results in the same domestic price is
a. none; they are the same
b. the quantity demanded is higher under the tariff
c. the world price is higher under the quota
d. the tariff revenue goes to the domestic government; quota benefits may go to foreigners
e. none because both quotas and tariffs are illegal
D
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How did laborers benefit from World War I (1914–18)?
(a) Their nominal take-home pay rose more than prices increased. (b) They were placed in military jobs that paid wages higher than private sector jobs. (c) High-paying jobs in the private sector were created to support the war effort. (d) Real GNP and national income fell during and shortly after the war.
The ________ refers to the situation when people are promoted beyond their level of competence
a. Peter Principle b. Abernathy Principle c. Delaney Principle d. Suskind Principle