Imposing a Restrictive Quota on the Import of Dishwashers Will

question 102

Multiple Choice

Imposing a restrictive quota on the import of dishwashers will likely

• A) increase the price of the dishwashers but decrease the quantity consumed.
• B) increase both the price of the dishwashers and the quantity consumed.
• C) leave the price of the dishwashers unchanged but decrease the quantity consumed.
• D) leave the price of the dishwashers unchanged and also leave the quantity consumed unchanged.

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Definitions:

Personal Liability

The legal responsibility of an individual to bear the financial costs associated with either their actions or inactions.

Scope of Employment

A legal concept referring to the range of activities an employee is reasonably expected to engage in as part of their job duties.

Torts

Legal wrongs committed against a person or property, excluding breach of contract, for which a court provides a remedy in the form of an action for damages.

Apparent Authority

The appearance or assumption of authority based on the conduct or statements of the principal, leading third parties to believe an agent has authority to act.