A crucial difference between the impact of an import quota compared to a tariff is that:
A) import quotas generate revenue to the domestic government, but tariffs do not.
B) import quotas generate no revenue to the domestic government, but tariffs do.
C) tariffs increase the prices paid by domestic consumers, but quotas do not.
D) both (a) and (c)
Correct Answer:
Verified
Q41: Imposing a quota on metal softball bats
Q42: An import quota does which of the
Q43: If the United States could produce 4
Q44: According to international trade theory, a country
Q45: Iceland can produce 32 units of food
Q47: Which of the following is not a
Q48: Iceland can produce 32 units of food
Q49: Which of the following would increase prices
Q50: If the United States could produce 4
Q51: A new U.S. import quota on imported
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents