A Key Difference Between Tariffs and Import Quotas Is That

question 23

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)domestic producers gain with a tariff and lose with an import quota.

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Definitions:

Downward Social Comparisons

This occurs when individuals compare themselves to others who are worse off in order to feel better about their own situation or abilities.

Self-Image

The personal viewpoint of an individual about themselves, including beliefs about appearance, personality, and capabilities.

Reference Group

A group that individuals use as a standard for evaluating themselves and their own behaviors, influencing their attitudes and behaviors.

Mainstream American Culture

The set of norms, behaviors, beliefs, and values that are widely accepted and practiced by the majority of the American population.