Which of the Following Is True Concerning the Impact of Tariffs

Multiple Choice

Which of the following is true concerning the impact of tariffs and quotas?

A) Tariffs raise the price of a good but quotas do not.
B) Tariffs reduce consumer and producer surplus whereas quotas reduce domestic consumer surplus and increase domestic producer surplus.
C) Both tariffs and quotas increase the quantity demanded.
D) The revenue resulting from a tariff goes to the government whereas the revenue resulting from a quota goes to whoever is awarded the right to sell the product.
E) The potential welfare loss is greater with tariffs than quotas.