A crucial difference between the impact of an import quota ...

[bcretired]

A crucial difference between the impact of an import quota compared to a tariff is that:
 a. import quotas generate revenue to the domestic government, but tariffs do not.
  b. import quotas generate no revenue to the domestic government, but tariffs do.
  c. tariffs increase the prices paid by domestic consumers, but quotas do not.
 d. both (a) and (c)

Question 2

Which of the following is a rival good that is nonexcludable?
 a. public good
 b. private good
 c. common resource
  d. none of the above

[beccamahon]

Answer to Question 1

b

Answer to Question 2

c