Which Statement Correctly Describes the Impacts of Tariffs and Quotas

question 201

Multiple Choice

Which statement correctly describes the impacts of tariffs and quotas?

• A) The impact is the same.
• B) Tariffs restrict exports while quotas restrict imports.
• C) Quotas generate government revenue and restrict exports; tariffs restrict exports and do not generate government revenue.
• D) Tariffs generate government revenue; both tariffs and quotas can reduce imports.

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