Use the Following to Answer Question

question 34

Multiple Choice

Use the following to answer question:
-(Figure: The Shrimp Market) Use Figure: The Shrimp Market.If the government imposes a quota limiting sales of shrimp to 250 pounds,it will have the same effect on transactions as a price floor of:

• A)$17.50
• B)$10
• C)$7.50
• D)The answer cannot be determined from the information provided.

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Definitions:

Net Exports

The value of a country's total exports minus its total imports, reflecting the balance of trade.

Capital Deepening

An increase in the amount of capital per worker; one source of rising labor productivity.

Capital Per Worker

A ratio measuring the amount of capital available to each worker, often used as an indicator of labor productivity.

Developed Country

A nation with a high level of industrialization, a high standard of living, and a well-developed infrastructure.