Question

Which statement BEST reflects the difference between tariffs and quotas?












A)
Tariffs raise prices on exports, while quotas set limits on imports.



B)
Tariffs raise prices on imports, while quotas set limits on exports.



C)
Tariffs raise prices on exports, while quotas set limits on exports.



D)
Tariffs raise prices on imports, while quotas set limits on imports.

Answer 1

Give me a second. I need to check my book for this one XD

Answer 2

OK ;)

Answer 3

Ok I think that tariffs raise prices on imports. Let me check what quotas are for

Answer 4

I think qutoas set limits on imports. So, by process of elimination, I think its D.