If the Canadian Government Imposes an Import Quota on French

question 67

Multiple Choice

If the Canadian government imposes an import quota on French Brie cheese, which statement would best predict the consequences?

• A) Both Canadian net exports and domestic sales of Canadian cheese will increase.
• B) Canadian net exports will not change, and domestic sales of Canadian cheese will increase.
• C) Both Canadian net exports and domestic sales of Canadian cheese will decrease.
• D) Canadian net exports will not change, and domestic sales of Canadian cheese will decrease.

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Definitions:

Cow Feed

A type of animal feed specifically formulated to meet the nutritional needs of cows.

Consumption

The act of using up goods and services to meet personal or collective needs or desires, typically measured within an economy over a period.

Utility Function

A mathematical representation of how consumers rank different bundles of goods according to the level of satisfaction or utility those goods provide.

Cow Feed

Food specifically formulated or suitable for feeding cattle.