The WTO Has Encouraged Nations to Replace Their Import Quotas

question 67

Multiple Choice

The WTO has encouraged nations to replace their import quotas with
Tariffs.Why?

• A)Quotas are more difficult to administer for the customs people.
• B)Quotas are more discriminatory.
• C)Quotas hurt domestic firms more than tariffs.
• D)Quotas result in larger losses than tariffs with equivalent protection on domestic monopolists.

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Definitions:

Cones

Photoreceptor cells in the retina of the eye that function best in bright light and enable color vision.

Dim Light

Low-intensity lighting that is not bright enough to cause full alertness and is commonly used in settings to promote relaxation.

Optic Disc

The point in the eye where the optic nerve fibers exit the retina, often referred to as the blind spot because it lacks light-sensitive cells.

Papilledema

Swelling of the optic disc due to increased intracranial pressure, often associated with symptoms like headaches and visual disturbances.