An Import Quota on a Product Normally Does All of the Following

question 105

Multiple Choice

An import quota on a product normally does all of the following except

• A)reduces the volume of that product traded.
• B)raises the price in the importing country.
• C)increases the price everywhere.
• D)reduces the price in the exporting country.

---

Definitions:

Q3

The third quartile in a data set, representing the midpoint between the median and the highest value of the dataset.

Percentile Points

Values that divide a set of observations into 100 equal parts, often used to interpret scores in tests.

Distribution

The spread of values within a dataset, representing how often each value occurs.

T Scores

Standardized scores with a mean of 50 and a standard deviation of 10, used to compare an individual's result to a norm group.