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.

according to hess's theory, when the magma cooled, it would expand and push the tectonic plates apart. it would push the north and south america plates to the west and eurasia and africa ones to the east. the atlantic ocean would get wider but the coastlines of the masses would stay the same.

harry hammond hess was a geologist and a united states navy officer in the second world war. he is considered to be one of the founding fathers of the theory of plate tectonics. he is known for his theories on sea floor spreading, stating that the movement of the continents was the result of see floor spreading. the continents are attached to the plates and do not move separately. the plates themselves shift and change shape, carrying the continents along.