Quotas Are Often Favored Over Tariffs as Import Restrictions Because

question 58

Multiple Choice

Quotas are often favored over tariffs as import restrictions because:
I.They are more flexible tools for regulating imports.
II.It is easier for government policy makers to assess the potential impact of a quota.

• A) I only.
• B) II only.
• C) Both I and II.
• D) Neither I nor II.

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Definitions:

Asthenosphere

A region of the upper mantle of the Earth, below the lithosphere, where rocks are relatively soft and can flow slowly.

Oceanic Fracture Zone

Crack or step in elevation of the seafloor that formed as a transform fault along a mid-ocean ridge but is no longer a plate boundary.

Mantle

The thick layer of rock between the Earth's crust and core, constituting most of the Earth's volume and involved in tectonic processes.

Melting

The process by which a solid substance changes to a liquid state due to an increase in temperature and/or a decrease in pressure.