As a Result of Importing a Good,domestic Producers ________ the Quantity

question 232

Multiple Choice

As a result of importing a good,domestic producers ________ the quantity produced and the price of the good ________.

• A) increase; rises
• B) increase; falls
• C) decrease; rises
• D) decrease; falls
• E) decrease; does not change

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Definitions:

Extortion

A criminal offense in which a person obtains money, property, and/or services from another by wrongfully threatening or inflicting harm on the other’s person, property, or reputation. Also called blackmail.

Rescind

To rescind is to revoke, cancel, or repeal a contract, agreement, or law, effectively making it as if it never existed.

Agreement

A mutual understanding or arrangement between two or more parties that outlines the terms and conditions of a specific course of action.

Fraud

Intentional deception made for personal gain or to damage another individual.