A country that must inhibit imports should give preference to

a. quotas over tariffs because quotas are less likely to distort trade patterns between nations.
b. tariffs over quotas because, unlike quotas, tariffs offer no special benefits to inefficient exporters.
c. export subsidies over quotas or tariffs because export subsidies can protect a nation's domestic producers.
d. an embargo wherever possible because an embargo can serve as a political weapon in addition to being a "trade stopper."

b

Economics

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The market demand curve for a monopolist is typically

a. unit price elastic. b. downward sloping. c. horizontal. d. vertical.

Economics

Which of the following is an example of a natural monopoly?

a. national defense b. ocean fish c. cable TV d. pizza

Economics