The Use of Tariffs and Quotas for Trade Protection Results

question 265

Multiple Choice

The use of tariffs and quotas for trade protection results in

• A) lower prices for domestic consumers.
• B) less revenue for government.
• C) less efficiency in the economy.
• D) less rent-seeking activity.

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Definitions:

Family Values

Set of beliefs usually associated with conservatism that stressed the superiority of nuclear family, heterosexual marriage, and traditional gender roles.

Immigration

The action of moving to a foreign country or region with the intention of settling there, often driven by factors like economic opportunity, war, or persecution.

Rwandan Genocide

A mass slaughter in 1994 that resulted in the deaths of up to 800,000 Tutsi and moderate Hutu, in an ethnic conflict in Rwanda.

September 11 Attacks

The terrorist attacks carried out by al-Qaeda on the United States on September 11, 2001, involving the destruction of the World Trade Center in NYC and damage to the Pentagon.