A Quota Differs from a Tariff in That Quotas

question 52

Multiple Choice

A quota differs from a tariff in that quotas:

• A) limit the volume of imports more than tariffs.
• B) do not increase the price of imports as much as tariffs.
• C) do not generate tax revenues, unlike tariffs.
• D) reduce consumer welfare more than do tariffs.

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Definitions:

NumberFormatException

An exception thrown in Java when an attempt is made to convert a string into a numeric format, but the string does not have the appropriate format.