An Important Difference Between Tariffs and Quotas Is That Tariffs

question 32

Multiple Choice

An important difference between tariffs and quotas is that tariffs

• A) raise the price of the good.
• B) generate tax revenue for the government.
• C) stimulate international trade.
• D) help domestic producers.
• E) are paid by foreign producers.

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Definitions:

Mary Whiton Calkins

An early American psychologist who became the first woman to serve as President of the American Psychological Association.

Innate Ability

Natural skills or talents that an individual is born with, not acquired or learned through experience.

Learned Skill

A capability acquired or developed through practice, training, or experience.

Nature

The inherent qualities or characteristics of an organism, or the physical world collectively, including plants, animals, the landscape, and other features and products of the earth.