Tariffs and Quotas on Imports Tend to Involve Larger Sacrifices

question 86

Multiple Choice

Tariffs and quotas on imports tend to involve larger sacrifices in national welfare than would occur under domestic subsidies.This is because,unlike domestic subsidies,import tariffs and quotas:

• A) Permit less efficient home production
• B) Distort choices for domestic consumers
• C) Result in higher tax rates for domestic residents
• D) Redistribute revenue from domestic producers to consumers

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Definitions:

Fungicides

Chemical substances used to kill or inhibit the growth of fungi and fungal spores, commonly used in agriculture.

Genetically Resistant

Having an inherited ability to withstand or fight off a specific condition or disease.

Insect Species

The various types of insects, classified into species based on shared characteristics, playing pivotal roles in ecosystems as pollinators, predators, and food sources for other organisms.

Widely Used Pesticides

Pesticides that are commonly used in agriculture and urban settings to control pests and diseases.