A Major Difference Between a Tariff and a Quota Is

question 22

Multiple Choice

A major difference between a tariff and a quota is that a tariff

• A)​will reduce the ability of foreigners to obtain the purchasing power to buy a nation's export goods, but a quota will not affect the demand of foreigners for the nation's exports.
• B)​typically generates tax revenue while a quota does not.
• C)​can easily be rescinded but a quota cannot.
• D)​will reduce imports but a quota generally will not.

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Definitions:

Ontological Argument

An argument for the existence of God based on the premise that God, being defined as the greatest possible being, must exist in reality because existence would make God greater.

Anselm

A medieval theologian and philosopher known for his argument for the existence of God through the concept of "that than which nothing greater can be thought."

Transcendence

In the philosophy of existentialist Jean Paul Sartre, the concept that we can always transcend, or go beyond, the facts that are true of us, or what Sartre called our facticity. Transcendence means that the self is defined not by the facts about us but by what we make—and continue to make—of these facts.

Martin Luther

A German monk, theologian, and seminal figure in the Protestant Reformation who challenged the teachings of the Roman Catholic Church.