What Are Tariffs and Quotas

question 70

Multiple Choice

What are tariffs and quotas?

• A)policies that restrict trade
• B)instruments implemented to increase trade efficiency
• C)measures endorsed by almost all economists
• D)policies meant to improve the well-being of consumers

---

Definitions:

Nucor's Profit-Sharing Program

A compensation scheme implemented by the steel company Nucor, designed to share a portion of profits with employees, thereby aligning their interests with the success of the company.

Steel Produced

The quantity of steel that has been manufactured and processed from raw materials.

Skill-Based Pay Programs

Compensation systems that pay employees based on their skills, expertise, and the variety of tasks they can perform, rather than their job title or position.

Job-Related Skills

Specific skills and capabilities that enhance an individual’s performance in their current or future employment roles.