A Tariff Differs from a Quota in That a Tariff

question 80

Multiple Choice

A tariff differs from a quota in that a tariff is

• A) levied on imports, whereas a quota is imposed on exports.
• B) levied on exports, whereas a quota is imposed on imports.
• C) a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported.
• D) a tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported.

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Definitions:

Valid Gift

A gift that meets all the legal requirements to be considered legally effective and transferred from one person to another.

Adult Donor

An individual of legal age who gives something voluntarily without receiving any compensation.

Delivery

The process of transporting goods from one place to another, or the act of transferring possession and control of an asset to another party.

Payment Of Money

A transaction where currency is transferred from one party to another as a means of fulfilling a financial obligation.