A tariff differs from a quota in that a tariff is
a. levied on imports, whereas a quota is imposed on exports.
b. levied on exports, whereas a quota is imposed on imports.
c. a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported.
d. a tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported.
D
Economics
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Indicate whether the statement is true or false
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a. the purchasing power of individuals b. welfare maximization c. a medium of exchange d. satisfaction e. an opportunity cost
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