Which statement best reflects the difference between tariffs and quotas?
a) tariffs set limits on imports, while quotas raise prices on exports.
b) tariffs set limits on exports, while quotas raise prices on imports.
c) tariffs raise prices on exports, while quotas set limits on exports.
d) tariffs raise prices on imports, while quotas set limits on imports.

Quotas set limits on imports, while tariffs raise prices on imports .

Option: D

Explanation:

A tariff in an economy is a tax that is applied to a product which is intended to limit the trade in addition to generate tax revenue. It means that a tariff is applied to the goods which are going to be exported. While a quote is considered to be a quantitative limit which is intended to put on the sum of the goods and services that can be imported. In economics, quotas are considered to be more in effect than the tariffs especially when the domestic demands for a particular thing is not a price-sensitive.

the historians cited in the article all agree with one another about the cause of the civil war. despite coming from different backgrounds and cultures, the historians agree that slavery was the root cause of the civil war. the fact that all these historiansgenerally agree with one another makes their shared viewpoints more reliable and valid, especially because the historians have different backgrounds and all work for the well-respected institutions of howard university, clemson university, and the university of colorado.

the earth’s crust is broken into separate pieces called tectonic plates (fig. 7.14). recall that the crust is the solid, rocky, outer shell of the planet. it is composed of two distinctly different types of material: the less-dense continental crust and the more-dense oceanic crust. both types of crust rest atop solid, upper mantle material. the upper mantle, in turn, floats on a denser layer of lower mantle that is much like thick molten tar.

each tectonic plate is free-floating and can move independently. earthquakes and volcanoes are the direct result of the movement of tectonic plates at fault lines. the term fault is used to describe the boundary between tectonic plates. most of the earthquakes and volcanoes around the pacific ocean basin—a pattern known as the “ring of fire”—are due to the movement of tectonic plates in this region. other observable results of short-term plate movement include the gradual widening of the great rift lakes in eastern africa and the rising of the himalayan mountain range. the motion of plates can be described in four general patterns:

collision: when two continental plates are shoved together

subduction: when one plate plunges beneath another (fig. 7.15)

spreading: when two plates are pushed apart (fig. 7.15)

transform faulting: when two plates slide past each other (fig. 7.15)