If an Import-Competing Firm Is Imperfectly Competitive,than Under Free Trade

question 7

Multiple Choice

If an import-competing firm is imperfectly competitive,than under free trade an import quota will ________ domestic market price,________ producer surplus,________ consumer surplus,________ government revenue,and ________ overall domestic national welfare.

• A) increase; increase; decrease; have no effect on; decrease
• B) decrease; decrease; increase; decrease; have no effect on
• C) increase; have no effect on; decrease; increase; decrease
• D) decrease; increase; decrease; increase; decrease
• E) have no effect on; have no effect on; decrease; increase; decrease

Comprehend the separation of powers within the U.S. government.

Identify the primary objectives of law and the balance it seeks to achieve in society.

Learn the foundational legal documents and principles that structure the U.S. judicial system, including the Constitution, the Supreme Court, and the concept of precedent.

Examine the role and powers of the executive branch, including executive orders and memoranda.

---

Definitions:

Stimulus

A change in the environment that leads to a change in behavior.

Response

A reaction or reply to a stimulus or situation, which can range from physiological reactions to complex behaviors.

Gross Motor Sophistication

The advanced development of large muscle activities, such as running, jumping, and throwing, that are typically refined during early childhood.

Cross-Cultural Studies

Research that compares cultural norms, values, practices, and social behaviors among different societies to understand human behavior.