What is an import quota?
What will be an ideal response?
An import quota is a government-imposed limit on the quantity of a good that can be imported.
You might also like to view...
If Urban Outfitters borrows $25 million from a bank to finance the construction of a new store, this is an example of
A) a bond market transaction. B) a stock market transaction. C) indirect finance. D) direct finance.
Refer to Table 2-14. What is Ireland's opportunity cost of producing one guitar?
A) 0.2 motorcycles B) 5 motorcycles C) 8 motorcycles D) 32 motorcycles
Figure 3.6 illustrates a set of supply and demand curves for hamburgers. A decrease in supply and a decrease in quantity demanded are represented by a movement from:
A. point a to point d. B. point c to point d. C. point c to point a. D. point b to point c.
A TRUE signal must
A) convey information only. B) convey information and direct the resource owners to act appropriately. C) convey information about the long-run future. D) explain in detail why something should be done.