An Import Quota Is Similar to a ________ in Its

question 57

Multiple Choice

An import quota is similar to a ________ in its effect on imports, EXCEPT that an import quota ________.

• A) tariff; does not generate revenue
• B) tariff; generates revenue
• C) subsidy; does not generate revenue
• D) subsidy; generates revenue
• E) tariff; does not result in an efficiency loss.

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Definitions:

Hitchhike

The act of traveling by getting free rides in passing vehicles, often seen as an adventurous and economical way of traveling.

Phrases

A collection of words that express a concept or part of a sentence.

Independent Spirit

The quality of thinking and acting autonomously, emphasizing self-reliance and distinctiveness from others.

Academic Genius

An individual who demonstrates exceptional intellectual ability in academic endeavors.