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Author Question: A. Distinguish between a tariff and a quota. b. In what ways are tariffs and quotas similar? c. ... (Read 96 times)

silviawilliams41

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on: Jun 29, 2018
a. Distinguish between a tariff and a quota.
  b. In what ways are tariffs and quotas similar?
  c. In what ways are tariffs and quotas different?
  d. Why might a foreign producer prefer a quota rather than a tariff?
 
  What will be an ideal response?

Question 2

According to the short-run Phillips curve, which of the following would result in high rates of unemployment?
 
  A) strong increases in aggregate demand B) strong increases in aggregate supply
  C) a higher inflation rate D) a lower inflation rate


taylorsonier

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Reply #1 on: Jun 29, 2018
Answer to Question 1

a. A tariff is a tax imposed by a government on imports while a quota is a numerical limit imposed by the government on the quantity of a good that can be imported into a country.
b. Compared to unrestricted trade, both a tariff and a quota result in: (

Answer to Question 2

D


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silviawilliams41

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Reply #2 on: Jun 29, 2018
Thank you


taylorsonier

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Reply #3 on: Jun 29, 2018
No problemo


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