Multiple Choice
What is the primary difference between an import tariff and an import quota?
A) A tariff causes prices to rise, but a quota does NOT.
B) A quota causes prices to rise, but a tariff does NOT.
C) A quota results in a net welfare loss, but a tariff does NOT.
D) Tariff revenues go to government, but a quota benefits those with the right to sell foreign goods domestically.
Correct Answer:
Verified
Related Questions
Q76: What is the difference between a specific
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