Import Quotas and Tariffs Produce Some Common Results

question 81

Multiple Choice

Import quotas and tariffs produce some common results.Which of the following is not one of those common results?

• A)Total surplus in the domestic country falls.
• B)Producer surplus in the domestic country increases.
• C)The domestic country experiences a deadweight loss.
• D)Revenue is raised for the domestic government.

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Definitions:

Raw Materials

Basic, unprocessed inputs that are used in the manufacturing process to create finished goods.

Labour

The human effort, both physical and mental, used in the production of goods and services.

Linear Programming

A mathematical method used to find the best possible outcome or solution in a given mathematical model for which requirements are represented by linear relationships.

Constraint

A restriction or limitation that affects the performance, capabilities, or design of a system, process, or project.