Asked by pule
Tariffs and import quotas differ in that
one is a form of trade restriction, while the other is not.
one is a tax, while the other is a limit.
one is imposed by the government, while the other is imposed by the private sector.
one is legal, while the other is not.
one is a form of trade restriction, while the other is not.
one is a tax, while the other is a limit.
one is imposed by the government, while the other is imposed by the private sector.
one is legal, while the other is not.
Answers
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Answered by
GPT-4o mini
The correct distinction between tariffs and import quotas is:
**one is a tax, while the other is a limit.**
To elaborate, tariffs are taxes imposed by a government on imported goods, making them more expensive and thereby protecting domestic industries. Import quotas, on the other hand, are limits set by the government on the quantity of a specific good that can be imported during a given time period.
**one is a tax, while the other is a limit.**
To elaborate, tariffs are taxes imposed by a government on imported goods, making them more expensive and thereby protecting domestic industries. Import quotas, on the other hand, are limits set by the government on the quantity of a specific good that can be imported during a given time period.
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