A Key Difference Between Tariffs and Quotas Is That

question 104

Multiple Choice

A key difference between tariffs and quotas is that

• A) the government receives revenue with tariffs, but the importer receives added profit with quotas.
• B) consumers are hurt with quotas but not with tariffs.
• C) consumers are hurt with tariffs but not with quotas.
• D) the government receives revenue with quotas, but the importer receives added profit with tariffs.

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Definitions:

P-value

A measure in statistical hypothesis testing representing the probability of observing a statistic at least as extreme as the one observed, under the assumption that the null hypothesis is true.

Null Hypothesis

A hypothesis that suggests there is no statistical significance between the specified sets of observations.

Support

In data mining and machine learning, it often refers to the frequency or occurrence of certain patterns or relationships within a dataset.

Population Parameter

A numerical value that represents a characteristic of a population, such as its mean or variance.