A Major Difference Between Tariffs and Import Quotas Is That

question 245

Multiple Choice

A major difference between tariffs and import quotas is that

• A)tariffs create deadweight losses,but import quotas do not.
• B)tariffs help domestic consumers,and import quotas help domestic producers.
• C)tariffs raise revenue for the government,but import quotas create surplus for those who get the licenses to import.
• D)All of the above are correct.

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Definitions:

Vestibule

An entrance or enclosed area at the entrance of a building, or in the context of anatomy, a space or cavity at the beginning of a canal.

Semicircular Canals

Three fluid-filled bony channels in the inner ear, playing a critical role in maintaining balance and spatial orientation.

Cochlea

A spiral-shaped, fluid-filled inner ear structure responsible for converting sound vibrations into neural signals.

Perilymph

The fluid that fills the space within the inner ear between the cochlea and the vestibular system, aiding in hearing and balance.