Related to the Economics in Practice on p.675: When a country lifts a quota,imports to that country generally ________ and the price of the affected product in that country generally ________.

Question

Quizplus · Accepted Answer

When a country lifts a quota, it allows more imports into the country, which generally increases the supply of the affected product. This increased supply typically leads to a decrease in the price of the product.

Related to the Economics in Practice on P