An import-licensing requirement, or import restrictions pertaining to the product quality and safety, are examples of:
A. Protective tariffs
B. Nontariff barriers
C. Voluntary export restrictions
D. Quotas on imported products
B. Nontariff barriers
You might also like to view...
Producer surplus
A) increases if market price rises and the supply curve does not shift. B) decreases if market price rises and the supply curve does not shift. C) is equal to the maximum price consumers are willing to pay. D) is the same as the marginal cost. E) always must equal consumer surplus.
What relationship is shown by a supply curve?
What will be an ideal response?
Which of the following is the mandate of the European Central Bank?
A) high economic growth B) price stability C) low unemployment D) a fixed exchange rate
Refer to the above figure. If a price floor of $3 was set
A. there would be a shortage of 20 units. B. there would be a shortage of 40 units. C. the quantity sold would be 80 units. D. there would be a surplus of 40 units.