The effect of an import quota is to
A) increase the supply of the good and lower its price.
B) decrease the supply of the good and raise its price.
C) increase the demand for the good and increase its price.
D) increase the supply of the good and increase its price.
Correct Answer:
Verified
Q60: Tariffs
A) generate revenue for the government.
B) generate
Q61: A difference between a quota and a
Q62: An import quota is
A) a tariff that
Q63: Which of the following best describes the
Q64: An import quota directly restricts_ and are
Q66: A tariff is
A) a government imposed limit
Q67: Of the following, in which decade were
Q68: A difference between a quota and a
Q69: A key difference between tariffs and quotas
Q70: Import quotas
A) set the number of units
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