The effect of a quota is to
A) increase quantity supplied and lower price.
B) increase quantity supplied and increase price.
C) increase demand for the good and increase price.
D) reduce quantity supplied and raise price.
Correct Answer:
Verified
Q205: If protective import-restricting tariffs are imposed by
Q206: A voluntary import expansion involves a
A) country
Q207: If protective import-restricting tariff are imposed by
Q208: If protective import-restricting tariffs are imposed by
Q209: The maximum amount of a good that
Q211: An official agreement with another country to
Q212: Voluntary restraint agreements are
A) a type of
Q213: A tariff placed on a foreign good
Q214: A quota is
A) a government-imposed restriction on
Q215: A government-imposed restriction on the quantity of
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