An Import Quota Will ________ Producer Surplus, ________ Consumer Surplus

question 36

Multiple Choice

An import quota will ________ producer surplus, ________ consumer surplus, ________ government revenue, and ________ overall domestic national welfare.

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

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Definitions:

Production

Production refers to the process of combining various material inputs and immaterial inputs (plans, knowledge) to make something for consumption (output).

Coolers

Devices or containers used to keep items cool or cold, often used for food and beverages.

Radios

Electronic devices designed for receiving and sometimes transmitting sound broadcasts via electromagnetic waves.

National Defense

The governmental actions, including military actions and strategies, to defend the country against threats to its security.