An Effective Import Quota

question 38

Multiple Choice

An effective import quota:

• A)lowers the price of imports.
• B)lowers the price of domestic goods competing with imports.
• C)increases the variety of goods available to the consumer.
• D)increases federal revenues.
• E)lowers the quantity of the imported good.

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Definitions:

Common Carrier

A transportation business that specializes in the transport of goods.

Title

A legal term referring to the rightful ownership of property, including the rights to use, sell, or lease it.

Paid

The state of having received money or compensation for services or goods.

Requirement of Writing

A legal principle that certain types of contracts or agreements must be in writing to be legally enforceable.