Quotas and tariffs:
A) restrict imports.
B) reflect a government's lack of support to its domestic firms.
C) induce free trade.
D) serve as threats to domestic markets.

Question

Quizplus · Accepted Answer

Quotas and tariffs are tools used by governments to restrict imports by setting limits on the amount or value of goods that can be imported (quotas) or by imposing taxes on imports (tariffs). These measures are often used to protect domestic industries from foreign competition.

Quotas and Tariffs