Which of the Following Correctly Identifies the Effect of an Import

question 52

Multiple Choice

Which of the following correctly identifies the effect of an import quota on a good?

• A)Domestic producers do not gain from an import quota.
• B)The gain to domestic producers is higher than the loss to domestic consumers.
• C)Prices in the global market will fall due to the imposition of an import quota.
• D)Domestic consumers bear the burden of an import quota in terms of higher domestic prices.

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Definitions:

Paraphrasing

The act of rewording or rephrasing text or speech to achieve clearer understanding, often for clarity or simplification.

Contain Threats

The process of identifying, assessing, and reducing threats to minimize their impact.

Establish Expertise

The process of demonstrating or gaining recognition for one's skill and knowledge in a particular area.

Determine Belief

The process of identifying or establishing what one accepts as true or real, often in the context of preparing for negotiations or critical thinking.