Tariffs and Quotas Both Decrease the Amount of a Good

question 72

True/False

Tariffs and quotas both decrease the amount of a good consumed and raise the price paid by domestic residents for the good.

---

Definitions:

Emergent Norms

Refers to the theory that norms develop spontaneously within social groups to guide behavior in atypical situations.

Nonroutine Collective Action

Spontaneous or unplanned group actions that emerge in response to unexpected events, differing from established patterns of behavior in society.

Social Relationships

Connections between individuals in a society that involve various forms of interaction, communication, and dependency.

Deprivation

The damaging lack of material benefits considered to be basic necessities in a society.