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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Definitions:

Postindustrial Period

characterizes the phase in societal development following the peak of industrialization, often marked by a shift towards service-oriented and information-based economies.

Replacement Level

A term used in demography indicating the number of children each woman needs to have to ensure the population size remains constant, typically calculated as slightly over two children per woman.

Fertility Levels

The mean number of offspring a woman has during her life in a certain group of people.

Replacement Level Fertility

The fertility rate at which each new generation precisely replaces itself, without increasing or decreasing the population size.