ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Tariffs raise prices on exports, while quotas set limits on imports.
|
|
|
Tariffs raise prices on imports, while quotas set limits on exports.
|
|
|
Tariffs raise prices on exports, while quotas set limits on exports.
|
|
|
Tariffs raise prices on imports, while quotas set limits on imports.
|
Detailed explanation-1: -The answer is the option D. Tariffs raise prices on imports, while quotas set limits on imports. Both tariffs and quotas are commerce restrictions to imports.
Detailed explanation-2: -Which statement BEST reflects the difference between tariffs and quotas? Tariffs raise prices on imports, while quotas set limits on imports.
Detailed explanation-3: -Tariffs are taxes that governments place on imported goods of a specific type. Quotas are import limits that prevent more than a set amount of a specific good from being imported into a country.
Detailed explanation-4: -A quota limits the quantity of a good that can be imported into a country. A tariff is a tax placed on an import.
Detailed explanation-5: -Quotas focus on limiting the quantities (or, in some cases, cumulative value) of a particular good that a country imports or exports for a specific period, whereas tariffs impose specific fees on those goods.