Which of the Following Is True of Import Tariffs and Quotas

question 140

Multiple Choice

Which of the following is true of import tariffs and quotas?

• A)They benefit domestic producers.
• B)Domestic consumers gain because they purchase the output of domestic firms.
• C)Specialization and comparative advantage are advanced by tariffs and quotas.
• D)They tend to expand the volume of world trade.
• E)Because they increase the output levels of domestic firms, they tend to lower domestic prices.

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Definitions:

Ciliary Muscle

Smooth muscle in the ciliary body of the eye.

Retina

is the light-sensitive layer at the back of the eye that contains photoreceptor cells, which convert light into neural signals for visual recognition.

Ciliary Body

Structure continuous with the choroid layer at its anterior margin that contains smooth muscle cells; functions in accommodation.

Rods and Cones

Types of photoreceptor cells in the retina of the eye, with rods being responsible for vision at low light levels and cones for color vision and fine detail.