When Import Restrictions Are Placed on a Good,and as a Result

question 56

Multiple Choice

When import restrictions are placed on a good,and as a result the price of the good increases,the demand curve for that good will

• A)shift rightward.
• B)shift leftward.
• C)become steeper.
• D)be unaffected.

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Definitions:

Nonprofit Organizations

Organizations that operate for the public or social benefit, without the goal of making profits for owners or shareholders.

Social Change

The variation in societal norms and cultural values over time, which impacts the way individuals and communities live and interact.

Worth

The value or importance of something, often measured in terms of money, effectiveness, or intrinsic merit.

Private Foundations

Nonprofit organizations funded by a single source, like a family or corporation, to support charitable activities.