The basic difference in the economic effects of a tariff compared with a quota is that a
A) quota reduces domestic consumption of the product, but a tariff does not.
B) tariff allows imports to increase if demand increases, whereas a quota does not.
C) tariff raises product prices, but a quota does not.
D) quota raises product prices, but a tariff does not.
Correct Answer:
Verified
Q261: Which of the following is a valid
Q262: Q263: The Smoot-Hawley Tariff Act of 1930 is Q264: Q265: From an economic perspective, studies of the Q267: "The nation needs to prevent foreign nations Q268: Which is a valid counterargument to the Q269: What is one of the major shortcomings 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
