If a tariff and import quota lead to equivalent incr... - Solved MCQs & Answer

4348EconomicsMedium

If a tariff and import quota lead to equivalent increases in the domestic price of steel, then?

AThe tariff results in efficiency reductions but the quota does not

BThey have different impacts on how much is produced and consumed

CThey have different impacts on how income is distributed

Dthe quota results in efficiency reductions but the tariff does not

Correct answer

C. They have different impacts on how income is distributed

Explanation

The correct answer is They have different impacts on how income is distributed.

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