Compared to a Tariff, an Import Quota, Which Restricts Imports

question 139

Multiple Choice

Compared to a tariff, an import quota, which restricts imports to the same amount as the tariff, will leave the country as a whole:

• A) worse off than a comparable tariff.
• B) not as bad off as a comparable tariff.
• C) about the same as a comparable tariff.
• D) Any of the above can be true.

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Definitions:

External Validity

Extent to which a study’s results can be generalized to phenomena in real life.

Generalized

A term often used in medical or psychological contexts to describe conditions, symptoms, or effects that are widespread or not limited to a specific body part or area of concern.

Real-life Phenomena

Events, situations, or experiences that occur in the natural world, as opposed to those created or simulated in controlled environments.

Epidemiology

Study of the frequency and distribution of a disorder, or a group of disorders, in a population.