An Import Quota Is Similar to a ________ in Its

question 57

Multiple Choice

An import quota is similar to a ________ in its effect on imports, EXCEPT that an import quota ________.

• A) tariff; does not generate revenue
• B) tariff; generates revenue
• C) subsidy; does not generate revenue
• D) subsidy; generates revenue
• E) tariff; does not result in an efficiency loss.

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Definitions:

Positive Slope

In graphing terms, indicates an increase in the y-variable for an increase in the x-variable, typically reflecting a direct relationship between two variables.

Panels

Groups of people selected to provide feedback or opinions on various topics or a term used to refer to flat components, like solar panels, that form part of a larger structure.

45-degree Line

A line in economic graphs illustrating points where two variables measured on the axes are equal.

Indeterminate

Lacking clear or definite limits or form; unable to be precisely measured or decided.