A Tariff Differs from a Quota in That a Tariff

question 1

Multiple Choice

A tariff differs from a quota in that a tariff:

• A)is a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported.
• B)is a tax imposed on imports, whereas a quota is a legal limit on the number of units of a good that can be imported.
• C)increases the price of a good, whereas a quota does not increase the price of the good.
• D)decreases the quantity of a good demanded in the domestic market, whereas a quota does not decrease the quantity demanded.
• E)increases the quantity of a good supplied in the domestic market, whereas a quota does not increase the quantity supplied.

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