A Key Difference Between Tariffs and Import Quotas Is That

question 96

Multiple Choice

A key difference between tariffs and import quotas is that

• A)consumers are hurt with import quotas but not with tariffs.
• B)consumers are hurt with tariffs but not with import quotas.
• C)the government receives revenue with a tariff,but the importer makes a profit with an import quota.
• D)the government receives revenue with an import quota,but the importer makes a profit with a tariff.
• E)producer surplus increases with a tariff and decreases with an import quota.

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Definitions:

Csikszentmihalyi

A psychologist known for developing the concept of Flow, a state of heightened focus and immersion in activities.

Flow

A psychological state characterized by complete immersion and focused concentration in an activity, leading to enhanced enjoyment and performance.

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A category of physical activities performed on the floor without specialized equipment, often focusing on strength, flexibility, and aerobic conditioning.

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Difficult or daring physical activities that require skill and bravery, often performed for entertainment purposes.