A Tariff Is Better Than a Quota Because

question 196

Multiple Choice

A tariff is better than a quota because

• A)it does not distort trade as much.
• B)quotas are inflexible.
• C)tariffs produce tax revenue.
• D)quotas hurt domestic producers; tariffs hurt foreign producers.

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Definitions:

Serial-Position Effect

A psychological phenomenon in which a person tends to remember the first and last items in a series better than the middle items.

Retrieval

The process of accessing and bringing into consciousness information stored in memory.

Stored Information

Data or knowledge retained in the mind or in digital/formal systems for future use.

Consciousness

A concept with many meanings, including sensory awareness of the world outside, direct inner awareness of one’s thoughts and feelings, personal unity, and the waking state.