If a Tariff and an Import Quota Lead to Equivalent

question 99

Multiple Choice

If a tariff and an import quota lead to equivalent increases in the domestic price of steel, then

• A) the quota results in efficiency reductions but the tariff does not.
• B) the tariff results in efficiency reductions but the quota does not.
• C) they have different impacts on how much is produced and consumed.
• D) they have different impacts on how income is distributed.

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Definitions:

Afrocentricity

An approach that emphasizes the importance of African culture, values, and perspectives in the analysis of social and political phenomena.

Minority

A group within a society that is differentiated by racial, religious, ethnic, linguistic, or cultural attributes and often has fewer members than the majority group.

Gestures

Physical movements, often of the hands or body, that express an idea, sentiment, or attitude.

Family preservation

Efforts and interventions aimed at keeping families together, preventing unnecessary separation or removal of children from their homes.