If a Country Is Small in World Markets and Imports

question 85

Multiple Choice

If a country is small in world markets and imports some product at the world price,the country effectively faces a horizontal foreign supply curve for that product.If the country then restricts the volume of imports by imposing an import quota,the effect on the domestic market for that product is to

• A)shift the entire supply curve to the left.
• B)make the domestic demand curve a horizontal line at the permitted quantity of imports.
• C)make the domestic demand curve a vertical line at the permitted quantity of imports.
• D)make the foreign supply curve a vertical line determined by the permitted quantity of imports.
• E)make the foreign supply curve a horizontal line at the current price.

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Definitions:

Seed Density

The number of seeds per unit area or volume, which can affect plant growth and crop yield.

Lawn Quality

A measure of the health, appearance, and overall condition of a grassy area or garden.

Prediction Interval

A prediction interval is a range of values that is used to estimate the interval within which a future observation will fall, with a certain degree of confidence, based on current data.

Seed Density

Refers to the quantity of seeds sown per unit area, impacting plant growth and crop yield.