A quota is a
A) quantitative restriction on an import imposed by the importing country.
B) quantitative restriction on an import imposed by the exporting country.
C) restriction on how much a customer can buy of a scarce good imposed by the seller.
D) tax that is imposed on a good when it crosses an international boundary.
E) trade barrier that does not harm domestic consumers of the good or service.
A
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What will be an ideal response?
In response to the economic downturn, the federal government enacted a fiscal stimulus bill with funding in excess of $700 billion
a. True b. False Indicate whether the statement is true or false
In a market, buyers want to pay the ________ possible price and sellers want to charge the ________ possible price.
A. highest, highest B. highest, lowest C. lowest, lowest D. lowest, highest
A contestable market is one where:
A. there is a threat of entry. B. there are no firms that threaten to enter the market. C. firms already in the market cannot leave the market. D. only one firm at a time can serve the market.