Multiple Choice
In what way does a tariff differ from a quota?
A) A tariff is levied on imports, whereas a quota is imposed on exports.
B) A tariff is a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported.
C) A tariff is a tax imposed on imports, whereas a quota is an absolute limit on the number of units of a good that can be imported.
D) A tariff is levied on exports, whereas a quota is imposed on imports.
Correct Answer:
Verified
Correct Answer:
Verified
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