Which of the Following Decreases If the U

question 10

Multiple Choice

Which of the following decreases if the U.S. imposes an import quota on computer components?

• A)U.S. imports and U.S. exports.
• B)U.S. imports but not U.S. exports.
• C)U.S. exports but not U.S. imports.
• D)Neither U.S. exports nor U.S. imports.

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Definitions:

Prevailing Wage

The average wage paid to employees in a specific area or industry, often determined for purposes of setting minimum wage levels on government contracts.

Black Market Activities

Transactions that take place outside of officially sanctioned channels, often illegal or unregulated by the government.

Market Efficiency

The degree to which market prices reflect all available, relevant information, leading to optimal allocation of resources.

Quota

A regulatory limit on the quantity or value of a particular product that can be traded or produced.