Which of the Following Is True Concerning the Impact of Tariffs

question 124

Multiple Choice

Which of the following is true concerning the impact of tariffs and quotas?

• A)Tariffs raise the price of a good but quotas do not.
• B)Tariffs reduce consumer and producer surplus whereas quotas reduce domestic consumer surplus and increase domestic producer surplus.
• C)Both tariffs and quotas increase the quantity demanded.
• D)The revenue resulting from a tariff goes to the government whereas the revenue resulting from a quota goes to whoever is awarded the right to sell the product.
• E)The potential welfare loss is greater with tariffs than quotas.

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Definitions:

Physically Placed

Refers to the actual location or arrangement of components or objects in the physical world or on a storage medium.

Fopen() Function

A command in many programming languages used to open a file and associate it with a stream.

NULL Address

A special value used in programming to indicate that a pointer does not point to any valid location in memory.

Operating System

An operating system (OS) is system software that manages computer hardware, software resources, and provides common services for computer programs.