Which of the following statements is true?
A. If the United States imposes a tariff on Swiss chocolate imports, the price of chocolate in the Switzerland is likely to increase.
B. If Switzerland imposes a "voluntary export restraint" on chocolate exports to the United States, the price of chocolate in the United States is likely to decrease.
C. If the United States imposes a quota on Swiss chocolate imports, the price of chocolate in the United States is likely to increase.
D. all of the above
Answer: C
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A. short-term unemployment that is associated with the process of matching workers with jobs. B. the extra unemployment that occurs during periods of recession. C. the additional unemployment not captured in official statistics resulting from discouraged workers and involuntary part-time workers. D. the unemployment that results when people retire or leave the labor force.
A market situation in which a large number of firms produce similar but not identical products is
A) a collusive market structure. B) competitive monopoly. C) a homogeneous market. D) monopolistic competition.
The Federal Funds Committee executes the purchases and sales of government securities decisions of the Federal Reserve
a. True b. False Indicate whether the statement is true or false
If there is complete crowding out as a result of an increase in government spending there will be
A) a decrease in aggregate demand. B) no change in aggregate demand. C) an increase in aggregate demand. D) a downward movement along the aggregate demand curve.