If the US Government Imposes a Quota on Toy Imports, Then Net

question 295

Multiple Choice

If the U.S. government imposes a quota on toy imports, then net exports of U.S. toys would

• A)rise.
• B)not change.
• C)fall.
• D)rise, not change, or fall depending on what happened to the exchange rate.

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Definitions:

Consequentialist Thought

Ethical philosophy considering the consequences of actions as the primary basis for any judgment about the rightness or wrongness of those actions.

Utilitarian Thought

A philosophical belief that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

A Theory of Justice

This is a seminal work by philosopher John Rawls, proposing principles of justice that would lead to a fair and equitable society.

Basic Structure

The fundamental organization or framework of a system, theory, or concept.