A Major Difference Between a Tariff and a Quota Is

question 1

Multiple Choice

A major difference between a tariff and a quota is that a tariff

• A) will reduce imports, but a quota generally will not.
• B) can easily be rescinded, but a quota cannot.
• C) will reduce the ability of foreigners to obtain the purchasing power to buy a nation's export goods, but a quota will not affect the foreign demand for the nation's exports.
• D) typically generates tax revenue, while a quota does not.

---

Definitions:

Flashbulb Memory

A type of memory that is highly detailed and vividly remembered, often associated with significant or emotionally charged events.

World Trade Center

A complex of buildings in Lower Manhattan, New York City, known for the tragic terrorist attacks on September 11, 2001.

Mnemonic Devices

Memory aids or tools that use associations, such as patterns, rhymes, or similarities, to enhance recall of information.

Peg-word System

A mnemonic device that involves linking words with numbers or items to make them easier to remember.