Tariffs and Import Quotas Differ. One

question 23

Multiple Choice

Tariffs and import quotas differ. One

• A) is a form of protectionism, the other is not.
• B) is a tax, the other is a quantity limit.
• C) is imposed by government, the other is imposed by the market.
• D) is legal, the other is not.
• E) increases imports, the other decreases imports.

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Definitions:

Backdraft

A dangerous explosive phenomenon that can occur when a fire is starved of oxygen and then oxygen is suddenly reintroduced, often during firefighting efforts.

Water Content

The amount of water contained in a material, expressed as a weight percentage of the material.

Wood-Based Smokes

Complex mixtures of particulate matter and chemicals produced by the incomplete combustion of wood materials, often containing toxic compounds.

Carbon Dioxide

An invisible, scentless gas that results from the combustion of carbon and organic materials, as well as from the process of respiration, utilized by plants in photosynthesis.