Prices tend to be higher under tariffs than under quotas.

Name: Prices tend to be higher under tariffs than under quotas.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Tariffs are taxes on imported goods that generally raise the price of an imported product, making it more expensive than similar domestic products. Quotas, on the other hand, limit the quantity of goods that can be imported, which can lead to shortages and significantly higher prices than tariffs would cause, as the supply is more restricted under quotas.

Prices Tend to Be Higher Under Tariffs Than Under Quotas