what-are-the-key-differences-between-the-economic-impacts-of-tariffs-and-import-

Question

What are the key differences between the economic impacts of tariffs and import quotas?

Accepted Answer

Tariffs increase government revenue, while import quotas increase foreign producer surplus.

Answer

Both tariffs and import quotas decrease foreign producer surplus.

Answer

Import quotas increase government revenue, while tariffs increase foreign producer surplus.

Answer

Both tariffs and import quotas increase government revenue.