Quotas Have the Effect of

question 45

Multiple Choice

Quotas have the effect of

• A) Increasing demand, raising price, and raising quantity
• B) Increasing supply, decreasing price, and increasing quantity
• C) Decreasing supply, raising price, and lowering quantity
• D) Decreasing demand, decreasing price, and decreasing quantity
• E) Decreasing supply, raising price, and increasing quantity

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Definitions:

Categorical Variable

A variable that can take on one of a limited, and usually fixed, number of possible values, assigning each individual or other unit of observation to a particular group or nominal category.

Coding

The process of transforming computer algorithms into a sequence of instructions that can be executed by a computer.

Multiple Linear Regression

A statistical method that employs multiple explanatory variables to forecast the result of a dependent variable.

Simple Linear Regression

a statistical method that models the relationship between a dependent variable and one independent variable using a linear equation.