Which of the following is true? a. An import quota raises the domestic price, while a tariff
Question:
Which of the following is true?
a. An import quota raises the domestic price, while a tariff does not.
b. A tariff reduces the quantity of imports, while an import quota does not.
c. A tariff raises revenue for the government.
d. An import quota benefits the foreign producer who is lucky enough to receive an import license.
e. Both a tariff raises revenue for the government and an import quota benefits the foreign producer who is lucky enough to receive an import license are true.
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e Both a tariff raises revenue ...View the full answer
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