If England Limits the Playing of U

question 83

Multiple Choice

If England limits the playing of U.S. music to no more than 5 hours per day

• A)this is the same as a quota.
• B)this is the same as a tariff.
• C)this make U.S. producers of television wealthier that they would otherwise be.
• D)economists would not call this a limit on trade since it is a service.

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Definitions:

Recession

A phase of brief economic downturn characterized by decreased trade and manufacturing activity, typically recognized by a drop in Gross Domestic Product for two consecutive quarters.

GDP Declines

A decrease in the gross domestic product, indicating a contraction in a country's economic activity over a specific period.

Indirect Competition

Competition among businesses that aren't direct rivals but offer substitute products or services.

Alternate Solutions

Approaches or methods that differ from the original way to solve a problem or achieve a goal.