How Do Voluntary Export Restraints Affect the Prices of Goods

question 97

Multiple Choice

How do voluntary export restraints affect the prices of goods?

• A) VERs do not affect the price of goods for consumers.
• B) VERs always reduce the domestic price of an imported good.
• C) VERs always raise the domestic price of an imported good.
• D) Typically, VERs will lower the price of goods while the quota is in place.
• E) VERs will always raise the export price of domestic goods.

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Definitions:

Polychaetes

A class of annelid worms, known for their bristled segments which are predominantly marine.

Chaetae

Bristle-like structures made of chitin found on the bodies of annelid worms, such as earthworms, contributing to their locomotion.

Oligochaetes

A group of segmented worms, including earthworms, characterized by having a relatively small number of chaetae (bristles) compared to other polychaetes.

Proglottid

A segment of a tapeworm, containing both male and female reproductive organs, which can produce eggs and eventually detach from the main body.