A Real Cost of Tariffs and Quotas That Is Difficult

question 29

Multiple Choice

A real cost of tariffs and quotas that is difficult to measure is that they

• A)encourage rent seeking.
• B)shift income from consumers to producers.
• C)limit the quantity of imports.
• D)reduce wages.

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Definitions:

Demographic Statistics

Numerical data relating to the characteristics of a population, such as age, gender, income, and education, used for market segmentation and analysis.

Quantified

Refers to the process of expressing or measuring something in terms of quantity or numbers, making it possible to analyze and compare objectively.

Customer Value Chain

A conceptual framework that outlines the series of steps a company takes to create value for the customer, from product development through to after-sales service.

Cross-Impact Matrix

A tool used to analyze and visualize the effects of one variable on another within a certain context, aiding in decision-making and scenario planning.