If Japan Offered Every U

question 197

Multiple Choice

If Japan offered every U.S.citizen a new automobile for a price of only $1,

• A)the action would be considered "dumping."
• B)domestic automobile manufacturers and workers would likely favor imposing tariffs or quotas to restrict this action.
• C)domestic citizens would benefit from this action by Japan.
• D)all of the above are true.

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Definitions:

Market Demand Curve

A graph that shows the relationship between the price of a good and the quantity of that good all consumers are willing to purchase at each price level.

Consumption

The act of using goods and services for personal needs or wants.

Demand Curve

A graphical representation showing the relationship between the price of a good and the amount of it that consumers are willing to purchase at various prices.

Quantity Demanded

The total amount of a good or service consumers are willing and able to purchase at a given price in a specified period.