A quota decreases the volume of imports, whereas a tariff typically has no impact on the volume of imports

a. True
b. False


B

Economics

You might also like to view...

Canada is classified by the International Monetary Fund as

A) an advanced economy. B) a developing economy. C) a transition economy. D) an emerging market economy. E) a natural-resource based economy.

Economics

The above figure shows the market for DVDs. The government decides that all citizens deserve to watch affordable DVDs so a price ceiling of $12 per DVD is placed on DVDs. After this price ceiling is in effect, deadweight loss equals ________

A) $1,600,000 B) $200,000 C) $800,000 D) $1,800,000 E) $400,000

Economics

Intraindustry trade relies on

A) economies of scale. B) the product cycle. C) differences in factor endowments. D) government industrial policies. E) monopoly pricing.

Economics

The forecast is

A) made for some date beyond the data set used to estimate the regression. B) another word for the OLS predicted value. C) equal to the residual plus the OLS predicted value. D) close to 1.96 times the standard deviation of Y during the sample.

Economics