Which One of the Following Statements About Tariffs and Quotas

question 200

Multiple Choice

Which one of the following statements about tariffs and quotas is correct?

• A)Only the tariff produces revenues for the government.
• B)Only the quota will cause domestic production to increase.
• C)Only the quota will cause domestic prices paid by consumers to increase.
• D)Only the quota will cause the quantity of imports to decrease.
• E)Only the tariff will result in higher prices for domestic production.

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Definitions:

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Moral principles that are considered to be universal and apply to all individuals, regardless of culture, society, or personal circumstance.

Moral Development

The growth in an individual's ability to distinguish right from wrong, to develop ethical principles, and to act based on these principles.

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The differentiation of intentions, decisions, and actions between those that are distinguished as proper and those that are improper, often guided by cultural, societal, or personal beliefs and values.