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A. tariff<br />
B. import quota<br />
C. voluntary export<br />
restraint<br />
D. export quota<br />
Question 13 of<br />
20<br />
5.0/ 5.0 Points<br />
Which of the following situations will arise in the domestic market following the imposition of an import quota?<br />
A. imports increase, domestic production decreases, prices<br />
decrease<br />
B. imports decrease, domestic production increases, prices decrease<br />
C. imports decrease, domestic production decreases, prices increase<br />
D. imports decrease, domestic production increases, prices increase<br />
Question 14 of<br />
20<br />
5.0/ 5.0 Points<br />
A possible reason a nation might impose a protectionist policy such as a tariff is to __________ .<br />
A. increase the level of imports<br />
B. protect an infant industry from foreign competitors<br />
C. encourage specialization in the good in which the nation has a comparative<br />
advantage<br />
D. slow domestic production<br />
Question 15 of<br />
20<br />
5.0/ 5.0 Points
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