When a Country That Imports a Particular Good Imposes an Import

question 186

Multiple Choice

When a country that imports a particular good imposes an import quota on that good,

• A)consumer surplus increases and total surplus increases in the market for that good.
• B)consumer surplus increases and total surplus decreases in the market for that good.
• C)consumer surplus decreases and total surplus increases in the market for that good.
• D)consumer surplus decreases and total surplus decreases in the market for that good.

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Definitions:

Evidence

Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case in favor of one side or the other.

Federal Trade Commission

The Federal Trade Commission is an independent agency of the United States government, established to prevent unfair methods of competition and unfair or deceptive acts or practices in commerce.

Misleading Advertising

Marketing communications that knowingly or unknowingly deceive or mislead the audience, often leading to false impressions about a product or service.

Government Agency

An organization within the government responsible for the administration of specific functions or the enforcement of laws.