The Primary Difference Between an Import Tariff and an Import

question 129

Multiple Choice

The primary difference between an import tariff and an import quota is that

• A)tariffs cause prices to rise, but quotas do not
• B)quotas cause prices to rise, but tariffs do not
• C)tariffs result in a net welfare loss, but quotas do not
• D)quotas result in a net welfare loss, but tariffs do not
• E)tariff revenues go to government, but quotas benefit those with the right to sell foreign goods domestically

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Definitions:

Rural Communities

Areas characterized by low population density and agricultural or other natural resource-based economies, often with distinct social and cultural attributes from urban areas.

Educated Families

Households with members who have attained higher levels of education, which can influence values, priorities, and opportunities.

Affluent Families

Households with considerable wealth and resources, which can significantly influence the social, educational, and emotional development of children within these families.

Giftedness

A term used to describe individuals, particularly children, who demonstrate exceptional natural abilities in one or more domains.