What is an in-the-money call option?

1. What is an in-the-money call option? What is an out-of-money put option?

2. How does an import quota differ from a tariff? Do you know any differences between Tariff and Tax? Please explain in details types of taxes and tariffs. Can the government ever capture the tariffs or/and taxes? If so, how? Provide with real examples from your country of origin.

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