The greater the elasticity of demand of a taxed item, the greater the tax revenue received

To illustrate the classical argument that "supply creates its own demand," the aggregate supply curve should be drawn:

A. downward-sloping. B. upward-sloping. C. horizontal. D. vertical.

A difference between a quota and a tariff is that

A. the government collects revenues from a tariff, which does not happen with a quota. B. a quota increases profits of domestic producers more than a tariff does. C. a tariff generates a higher price than a quota does. D. a tariff generates a greater reduction in exports.