Which of the following is a true statement?
A) Quotas increase the availability of imported goods
B) Tariffs reduce the price of domestically produced goods
C) Unlike tariffs,quotas will reduce the price of imports
D) Quotas result in greater profits for foreign producers
E) A $1,000 tariff on Japanese cars will result in a $1,000 increase in their price
Correct Answer:
Verified
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