Which of the Following Is Common to Both Tariffs and Quotas

question 131

Multiple Choice

Which of the following is common to both tariffs and quotas?

• A)Tariffs and quotas are both used as a means to increase government revenue.
• B)Tariffs and quotas both increase economic efficiency.
• C)Tariffs and quotas are both designed to reduce foreign competition faced by domestic firms.
• D)Tariffs and quotas are both examples of voluntary export restraints.

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Definitions:

Leadership Requirements

The essential skills, qualities, and competencies that an individual must possess to be effective in leadership roles.

Need for Power

A psychological drive that affects an individual's behavior in seeking positions or situations where they can exert control or influence over others.

Empower Others

The act of delegating power and responsibilities to subordinates or team members, enabling them to take initiative and make decisions.

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A systematic process of envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.