A difference between a quota and a tariff is that
A) a tariff generates a higher price than a quota does.
B) a tariff generates a greater reduction in exports.
C) a quota increases profits of domestic producers more than a tariff does.
D) the government collects revenues from a tariff, which does not happen with a quota.
Answer: D
Economics
You might also like to view...
Which of the following statements is true?
A) An optimizing individual is also likely to exhibit rationality. B) Optimization requires individuals to foresee the future perfectly. C) The less information that is available, the easier it is to make optimal decisions. D) An optimizing individual need not consider the risks involved in various choices.
Economics
An example of price floor is
a. Minimum wages b. Rent controls in New York c. Both a and b d. None of the above
Economics