Which of the Following Is True of Import Tariffs and Quotas

question 140

Multiple Choice

Which of the following is true of import tariffs and quotas?

• A)They benefit domestic producers.
• B)Domestic consumers gain because they purchase the output of domestic firms.
• C)Specialization and comparative advantage are advanced by tariffs and quotas.
• D)They tend to expand the volume of world trade.
• E)Because they increase the output levels of domestic firms, they tend to lower domestic prices.

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Definitions:

Virtue

is a trait or quality deemed to be morally good and thus is valued as a foundation of good moral being.

Grounding Conductor

The conductor that is used to force a piece of equipment to exist at ground potential. It is generally green in color or bare.

Appliance Circuit

The electrical circuit dedicated to supplying power to an individual appliance, ensuring safety and reliability in its operation.

Neutral Conductors

Conductors connected to the neutral point in a circuit, carrying current only under unbalanced load conditions.