题目内容
A limitation of a specific tariff is that it provides a constant level of protection for domestic commodities ragardless of fluctuations in their prices over time.
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A tariff quota is a combination of a specific tariff and ad valorem tariff.
A specific tariff is expressed as a fixed percentage of the total value of an imported product.
The protective effect of a tariff occurs to the extent that less efficient domestic production is substituted for more efficient foreign production.
A tariff can increase the welfare of a ''large'' levying country if the favorable terms-of- trade effect more than offsets the unfavorable protective effect and consumption effect.
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