A Tariff Differs from a Quota in That a Tariff

question 80

Multiple Choice

A tariff differs from a quota in that a tariff is

• A) levied on imports, whereas a quota is imposed on exports.
• B) levied on exports, whereas a quota is imposed on imports.
• C) a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported.
• D) a tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported.

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Definitions:

Production Volume

The quantity of goods or products that are manufactured or processed in a certain period.

Learning Curves

The graphical representation of how an individual's or organization's performance improves over time as a result of experience or practice.

Learning Curve Analysis

Examination of how the time to perform a task decreases with increasing repetitions, due to workers gaining efficiency.

Tasks Repeated

Activities or duties that are performed again, either to achieve perfection, necessity, or due to the cyclical nature of the process.