CHAPTER 8: TARIFFS VERSUS QUOTAS
INTRODUCTION
The main concern of this study is to determine the better option between quotas and tariff for US for importing goods from Japan. The impacts of both quota and tariff on the US economy along with the impact of all foreign imports on the domestic production in terms of industry competition is central idea of the study.
Tariff: The amount of tax or duty that is to be paid to the government on the particular class of imports and exports.
As discussed in this case the quota if imposed on the imports of television from Japan ...