A Major Difference Between Tariffs and Import Quotas Is That

question 245

Multiple Choice

A major difference between tariffs and import quotas is that

• A)tariffs create deadweight losses,but import quotas do not.
• B)tariffs help domestic consumers,and import quotas help domestic producers.
• C)tariffs raise revenue for the government,but import quotas create surplus for those who get the licenses to import.
• D)All of the above are correct.

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Definitions:

Sustainability

Involves meeting the needs of the present without compromising the ability of future generations to meet their own needs, often focusing on environmental, economic, and social dimensions.

Business Strategies

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Organizations

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Stakeholder Assessment

A process to evaluate the interests, influence, and implications for all parties with a vested interest in a project or business decision.