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Author Question: A tariff differs from a quota in that a tariff is a. levied on imports, whereas a quota is imposed ... (Read 144 times)

piesebel

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on: Jun 30, 2018
A tariff differs from a quota in that a tariff is
 a. levied on imports, whereas a quota is imposed on exports.
 b. levied on exports, whereas a quota is imposed on imports.
 c. a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported.
 d. a tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported.

Question 2

What distinguishes public goods from private goods?


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mmpiza

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Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

Public goods are both nonrival in consumption (one person's consumption does not diminish another's) and nonexclusive (you cannot prevent nonpaying individuals from benefiting from the good). Private goods are both rivalrous and exclusive. One's consumption of such a good does diminish another's, and you can keep nonpaying individuals from consuming the good or service.


piesebel

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Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

peter

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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