Tariffs ________ a Deadweight Loss and Import Quotas ________ a Deadweight

question 115

Multiple Choice

Tariffs ________ a deadweight loss and import quotas ________ a deadweight loss.

• A) create; create
• B) do not create; create
• C) create; do not create
• D) do not create; do not create

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Definitions:

Across-The-Board

A term referring to actions or changes that apply uniformly to everything or everyone within a certain context or organization.

Price Discrimination

A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider in different markets or to different customers.

Goods

Tangible products that are manufactured, produced, and offered for sale.

Quality

The measure of how a product or service either meets or surpasses the anticipations of customers.