The Primary Difference Between an Import Tariff and an Import

question 129

Multiple Choice

The primary difference between an import tariff and an import quota is that

• A)tariffs cause prices to rise, but quotas do not
• B)quotas cause prices to rise, but tariffs do not
• C)tariffs result in a net welfare loss, but quotas do not
• D)quotas result in a net welfare loss, but tariffs do not
• E)tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically

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Definitions:

Ruff Degradation

A chemical process used to shorten the carbon chain of sugars by one carbon atom, involving the oxidation of an aldose sugar to the corresponding aldonic acid, followed by its decarboxylation.

D-aldopentoses

A type of sugar containing five carbon atoms, including an aldehyde group at the first carbon.

D-aldotetrose

A simple sugar (tetrose) in the D-configuration with an aldehyde group, part of the carbohydrate family.

Ruff Degradation

A chemical process used to convert monosaccharides into smaller sugars or alditols.