If the United States Imposed a Quota on the Amount

question 233

Multiple Choice

If the United States imposed a quota on the amount of salmon imported from Chile,the result would be ________ salmon prices in the United States and ________ in the quantity of salmon demanded in the United States.

• A) higher; an increase
• B) higher; a decrease
• C) lower; an increase
• D) lower; a decrease
• E) higher; no change

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Definitions:

National Culture

The set of shared values, beliefs, practices, and norms that characterizes the population of a nation.

Unique Values

Distinctive qualities or principles held by an individual, organization, or product that set them apart from others.

African American

An ethnic group in the United States with total or partial ancestry from any of the black racial groups of Africa.

Buying Patterns

The habits or tendencies of consumers in acquiring goods or services, which can reveal preferences and frequency.