Import Bans,import Quotas,voluntary Export Restraints,and Tariffs on Goods All

question 40

Multiple Choice

Import bans,import quotas,voluntary export restraints,and tariffs on goods all

• A) increase equilibrium quantity and prices.
• B) decrease equilibrium quantity and prices.
• C) increase equilibrium quantities, but decrease prices.
• D) decrease equilibrium quantities, but increase prices.

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Definitions:

Shortcut

A direct route or method that reduces the time or effort to complete a task.

Ordinary Simple Interest

Interest calculated on the principal amount of a loan or investment, based on a simple calculation and not compounded.

360-Day Year

A simplified accounting method that assumes there are 360 days in a year, used for calculating interest and other financial metrics.

Principal

The original sum of money borrowed in a loan, or the initial amount of investment, excluding interest or profit.