One Way Tariffs Differ from Quotas Is That

question 254

Multiple Choice

One way tariffs differ from quotas is that

• A) tariffs produce revenues for the importing country's government.
• B) quotas produce revenues for the exporting country's government.
• C) tariffs produce no revenues but set limits on the imported items.
• D) tariffs are applied only on raw materials.

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Definitions:

P-value

The P-value is a statistical parameter that helps to determine the significance of the results from a hypothesis test, indicating the probability of observing the results if the null hypothesis is true.

P-value

A statistic that measures the probability of obtaining an observed result, or more extreme, under the assumption that the null hypothesis is true.

Null Hypothesis

A statement in statistics that proposes there is no significant difference or effect, and any observed difference is due to sampling or experimental error.

Hypothesis Testing

A statistical method used to determine whether there is enough evidence in a sample of data to infer that a certain condition holds for the entire population.