In Comparing a Tariff and an Import Quota, We Find

question 151

Multiple Choice

In comparing a tariff and an import quota, we find that

• A)the tariff and quota both generate the same amount of revenue for the U.S. Treasury.
• B)the tariff generates revenue for the U.S. Treasury, but the quota does not.
• C)the quota generates revenue for the U.S. Treasury, but the tariff does not.
• D)neither the tariff nor the quota generates revenue for the U.S. Treasury.

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Definitions:

Off the field

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Shared hobbies

Activities or interests pursued in leisure time that are enjoyed collectively by a group of people, fostering social bonds and community.

Social network

A structure made up of individuals or organizations that are connected through various social relationships, such as friendship, kinship, common interests, or beliefs.

World Trade Organization

An international organization that regulates international trade, aiming to ensure that trade flows as smoothly, predictably, and freely as possible.