The low point of economic activity during a business cycle is called the

A. Distinguish between a tariff and a quota

b. In what ways are tariffs and quotas similar? c. In what ways are tariffs and quotas different? d. Why might a foreign producer prefer a quota rather than a tariff? What will be an ideal response?

Which of the following is not one of the key services provided by the financial system?

A) risk sharing B) liquidity C) decreasing taxes D) generating information