Tariffs and Quotas Are Different in the Sense That

question 7

Multiple Choice

Tariffs and quotas are different in the sense that

• A)tariffs cause deadweight losses,while quotas do not cause deadweight losses.
• B)tariffs raise revenue for the government,while quotas do not raise revenue for the government.
• C)tariffs enhance the well-being of domestic consumers,while quotas diminish the well-being of domestic consumers.
• D)tariffs enhance the well-being of domestic producers,while quotas diminish the well-being of domestic producers.

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Definitions:

Allocating Revenues

The process of assigning or distributing revenues to different accounts or periods based on criteria or rules.

Operating Segments

Parts of a company that engage in business activities yielding revenues and incurring expenses.

AASB 136 Impairment of Assets

A standard issued by the Australian Accounting Standards Board detailing the procedures for ensuring that assets are carried at no more than their recoverable amount, and how to record any impairment losses.