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The Figure Below Shows the Demand (D) and Supply (S)

Question 75

Multiple Choice

The figure below shows the demand (D) and supply (S) curves of corn syrups.Figure 21.3
The figure below shows the demand (D)  and supply (S)  curves of corn syrups.Figure 21.3    -The basic difference between a tariff and quota is that: A) a quota can be imposed both on imports and exports, whereas a tariff can be imposed only on imports. B) a quota yields revenue to the government, whereas a tariff does not yield any revenue. C) a tariff reduces the import of the goods with greater certainty than quota as the amount of import restricted by quota depends on the price elasticity of demand for importable. D) a tariff is a quantitative restriction on imports, whereas a quota is an import duty. E) a tariff raises the price of the product only in the domestic market, whereas with a quota, both domestic and foreign producers receive a higher price.
-The basic difference between a tariff and quota is that:


A) a quota can be imposed both on imports and exports, whereas a tariff can be imposed only on imports.
B) a quota yields revenue to the government, whereas a tariff does not yield any revenue.
C) a tariff reduces the import of the goods with greater certainty than quota as the amount of import restricted by quota depends on the price elasticity of demand for importable.
D) a tariff is a quantitative restriction on imports, whereas a quota is an import duty.
E) a tariff raises the price of the product only in the domestic market, whereas with a quota, both domestic and foreign producers receive a higher price.

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