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Economics
MEDIUM
ENGLISH
Economics
In a tariff and import quota lead to equivalent increase in the domestic price of steel, then ?
A
The quota results in efficiency reductions but the tariff does not
Option A
B
The tariff results in efficiency reductions but the quota does not
Option B
They have identical impact on how much is produced and consumed
Correct answer
D
They have identical impact on how income is distributed
Option D
Correct answer: C
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