Suppose the Government of an Importing Country Is Considering Imposing

question 3

Multiple Choice

Suppose the government of an importing country is considering imposing either a tariff that would result in imports falling to 1 million units per year or an import quota of 1 million units per year.Which of the following would be true?

• A)The domestic price of the imported good will rise higher with the tariff than with the quota.
• B)Consumers in the importing country will be worse off with the quota than with the tariff.
• C)Domestic producers that compete with the imports will be better off with the tariff than with the quota.
• D)The tariff will increase the revenue of the government of the importing country,while the quota will increase the profits of the foreign exporting firms with quota rights.
• E)Tariffs raise the price of a good but quotas do not.

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Definitions:

Freud's Critics

Individuals or theories that challenge or critique the methods, concepts, and conclusions of Sigmund Freud's psychoanalytic theory, often focusing on its scientific validity and cultural biases.

Sexuality

A complex aspect of human beings that encompasses sexual behaviors, attractions, identities, and relationships.

Social Factors

Encompass the external societal influences on an individual's behavior, beliefs, and life outcomes, such as family, culture, and socio-economic status.

Individual Psychology

A therapeutic approach founded by Alfred Adler, focusing on the uniqueness of the individual and the importance of societal factors in personality development.