Asked by Jeancarlos Chavarro on May 14, 2024
Verified
It is ______ that a tariff,unlike a quota,provides revenues to the government;it is ________ that a quota directly limits the quantity of a nation's imports from a specific country.
A) true;true
B) false;false
C) false;true
D) true;false
Tariff
A tax imposed by a government on imported or exported goods to regulate trade.
Quota
A trade limitation enforced by the government that restricts the quantity or financial value of products that may be exported or imported within a certain timeframe.
Revenues
Revenues represent the total income generated by a business from its primary activities, such as sales of goods or services, before any costs or expenses are deducted.
- Discern and clarify the ramifications of tariffs, quotas, and various trade impediments on international trade exchanges.
- Understand the role of government revenue generation through tariffs.
Verified Answer
DG
Deivanai GanesanMay 15, 2024
Final Answer :
A
Explanation :
Tariffs are taxes imposed on imported goods, generating revenue for the government, while quotas directly limit the quantity of imports, making both statements true.
Learning Objectives
- Discern and clarify the ramifications of tariffs, quotas, and various trade impediments on international trade exchanges.
- Understand the role of government revenue generation through tariffs.