A Major Difference Between Tariffs and Import Quotas Is That

question 245

Multiple Choice

A major difference between tariffs and import quotas is that

• A)tariffs create deadweight losses,but import quotas do not.
• B)tariffs help domestic consumers,and import quotas help domestic producers.
• C)tariffs raise revenue for the government,but import quotas create surplus for those who get the licenses to import.
• D)All of the above are correct.

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Definitions:

Pain And Anxiety

The interrelation of discomfort and worry, where pain can cause anxiety, and anxiety can increase the perception of pain.

Endorphins

Neurochemicals produced within the body that act as natural painkillers and mood elevators, often credited with producing feelings of pleasure and euphoria.

Neurotransmitters

Substances that carry signals from one neuron to another across a synapse in the nervous system.

Opiate Drugs

A category of drugs derived from opium plants, often used for pain relief but associated with high addiction potential.