If a Country Removed an Import Quota on Cotton,then Overall

question 110

Multiple Choice

If a country removed an import quota on cotton,then overall that country's

• A)exports and imports would rise.
• B)exports would rise and imports would fall.
• C)exports would fall and imports would rise.
• D)exports and imports would fall.

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Definitions:

Chain of Distribution

The sequence of intermediaries through which a product or service passes until it reaches the end consumer.

Competitors

Individuals or entities that are in the same industry or market and vying for the same customers or market share.

Robinson-Patman Act

A United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination.

Cost Savings

A reduction in expenses, achieving the same outcomes but at a lower cost.