Which of the Following Is a Correct Statement About Tariffs

question 19

Multiple Choice

Which of the following is a correct statement about tariffs and quotas?

• A) Tariffs and quotas both increase social welfare.
• B) Tariffs are less restrictive than quotas if demand increases.
• C) Quotas have less of an impact on markets than tariffs do.
• D) Tariffs are restricted under GATT rules but quotas are not.

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