One Difference Between a Tariff and a Quota Is That

question 87

True/False

One difference between a tariff and a quota is that the tariff brings in revenue to
the government while the quota benefits the foreign producer who is lucky enough to receive an import license.

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Definitions:

Benefits

Advantages or favorable outcomes derived from a specific action, policy, or product.

Durable Power

A legal document that grants someone the authority to make decisions on another's behalf, typically in health care or financial matters, and remains in effect if the person becomes incapacitated.

Living Wills

Legal documents that express an individual's wishes regarding medical treatment in situations where they are unable to communicate their preferences.

Attorneys

Licensed legal professionals authorized to represent and advise clients in legal matters.