A Key Difference Between Tariffs and Import Quotas Is That

question 96

Multiple Choice

A key difference between tariffs and import quotas is that

• A)consumers are hurt with import quotas but not with tariffs.
• B)consumers are hurt with tariffs but not with import quotas.
• C)the government receives revenue with a tariff,but the importer makes a profit with an import quota.
• D)the government receives revenue with an import quota,but the importer makes a profit with a tariff.
• E)producer surplus increases with a tariff and decreases with an import quota.

Comprehend the dynamics and processes involved in social identity theory.

Recognize the role of emotions and selective attention in the perceptual process.

Identify the mechanisms of confirmation bias and self-concept maintenance.

Understand the impact of mental models on information processing.

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Definitions:

Utility

A measure of satisfaction or pleasure derived from consuming products or services.

Money Income

The total amount of monetary earnings received by an individual or household, including wages, salaries, investments, and other income sources.

Coke

A carbonized material derived from coal used mainly in steel production, or a trademark for a popular carbonated soft drink.