If a Foreign Country Imposes a Voluntary Export Restraint, Then

question 138

Multiple Choice

If a foreign country imposes a voluntary export restraint, then the:

• A)consumer surplus will be lower than would be so if the home country imposes a tariff
• B)producer surplus will be lower than would be so if the home country imposes a tariff.
• C)area of government revenue will be taken by the foreign country.
• D)deadweight loss is smaller than would be so if the home country imposes a tariff.

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Definitions:

Conservation Skills

The cognitive ability to understand that quantity remains the same despite changes in shape or appearance, typically developing in early childhood.

Developmental Stage

Phases through which an individual progresses from infancy to adulthood, each characterized by distinct physical, psychological, and cognitive changes.

Preoperational

A stage in Piaget's theory of cognitive development, occurring from approximately age 2 to 7, characterized by symbolic thinking, egocentrism, and lack of logical reasoning.

Mental Programs

Mental programs are the cognitive structures and processes that guide thoughts, actions, and problem-solving in the human brain.