One Reads the Following in a Newspaper: "Today the President

question 223

Multiple Choice

One reads the following in a newspaper: "Today the president and Congress agreed to impose new restrictive quotas on Japanese cars coming into the country." As a result,an economist would predict that the

• A) supply of cars in the country will remain the same and the (average)price of cars will fall.
• B) supply of cars in the country will fall and the (average)price of cars will rise.
• C) supply of cars in the country will rise and the (average)price of cars will fall.
• D) demand for cars in the country will fall and the (average)price of cars will rise.
• E) demand for cars in the country will rise and the (average)price of cars will rise.

---

Definitions:

Secondary Research

The process of gathering existing data from previously published sources to conduct a study.

Technical Information

Specialized knowledge or data that pertains to a specific field or technology, usually requiring expertise to understand and apply effectively.

Research Methods

Systematic techniques used for investigating phenomena, acquiring new knowledge, or correcting and integrating previous information.

Establish Hypothesis

The process of formulating a testable statement or prediction that can be investigated through research and experimentation.