Which Statement Correctly Describes the Impacts of Tariffs and Quotas

question 98

Multiple Choice

Which statement correctly describes the impacts of tariffs and quotas?

• A) Tariffs restrict exports while quotas restrict imports.
• B) Tariffs generate government revenue; both tariffs and quotas can reduce imports.
• C) Quotas generate government revenue and restrict exports; tariffs restrict exports and do not generate government revenue.
• D) The impact is the same.

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Definitions:

OSHA

The Occupational Safety and Health Administration, a U.S. government agency responsible for ensuring safe and healthy working conditions.

Worker Safety

Measures and policies implemented to protect employees from risks and injuries in the workplace.

P-value

A statistical measure that helps determine the significance of results by comparing the observed data to what would be expected by chance, often in hypothesis testing.

Mass Production

The large-scale manufacturing of large quantities of products, often using assembly lines or automated technology to achieve efficiency.