Tariffs and import quotas both result in

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Both tariffs and import quotas are protectionist measures designed to reduce the level of imports in a country. Tariffs are taxes placed on imported goods, while import quotas limit the quantity of a particular good that can be imported. Therefore, both measures result in lower levels of imports. While governments may gain revenue from tariffs, it is not guaranteed and not the main purpose of these measures. Higher levels of domestic consumption and lower levels of domestic production are not necessarily the intended outcomes of tariffs and import quotas.

Tariffs and Import Quotas Both Result in