One key difference between tariffs and quotas is that a . . tariffs put a legal limit
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Question:
One key difference between tariffs and quotas is that
a. tariffs put a legal limit on how much of a good can be imported, while a quota is a tax on imported goods.
b. tariffs raise revenue for the government, while quotas do not.
c. quotas raise revenue for the government, while tariffs do not.
d. tariffs cause deadweight loss, while quotas do not cause deadweight loss.
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