Quotas and tariffs both
A) decrease deadweight loss.
B) restrict foreign trade.
C) cause a loss of revenue to domestic producers.
D) lower prices on imported goods.

Name: Quotas and tariffs both A) decrease deadweight loss. B) restrict foreign trade. C) cause a loss of revenue to domestic producers. D) lower prices on imported goods.
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Question

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Quotas and tariffs are trade barriers that restrict foreign trade by limiting the quantity of imports (quotas) or increasing the cost of imports (tariffs).

Quotas and Tariffs Both