The Effects of a Quota Are Similar to That of a Tariff

question 250

Multiple Choice

The effects of a quota are similar to that of a tariff in that consumers pay _____ prices and imports _____ as a result of the quota.

• A) lower; rise
• B) lower; fall
• C) higher; fall
• D) higher; rise

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Definitions:

Company's Mission

A statement that describes the purpose and fundamental objectives of an organization, guiding its strategy, operations, and decision-making.

Social Expectations

The anticipated norms and behaviors society believes individuals should conform to in various situations.

Ethically and Responsibly

Acting in a manner that is morally right and in accordance with good conduct, especially in business practices.

Cause Marketing Efforts

Marketing strategies used by companies to promote social causes or charitable organizations, often as part of their corporate social responsibility.