-Refer to the Above Diagram,where S_d and D_d Are the Domestic

question 142

Multiple Choice

-Refer to the above diagram,where S_d and D_d are the domestic supply and demand for a product and P_c is the world price of that product.S_d + Q is the product supply curve after an import quota is imposed.A tariff of P_cP_t or an import quota of wy will:

• A) have the same effect on the volume of imports.
• B) have the same effect on domestic price.
• C) have the same effect on the revenues of domestic producers.
• D) do all of the above.

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Definitions:

Fourteenth Amendment

was adopted in 1868 as one of the Reconstruction Amendments, granting citizenship and equal civil and legal rights to African Americans and slaves who had been emancipated.

United States Citizenship

The status of being a recognized member of the United States, entitled to rights and subject to obligations under the Constitution and laws.

Asians

People originating from or associated with the continent of Asia, encompassing a wide range of ethnicities, cultures, and languages.

Slaughterhouse Cases

A set of 19th-century Supreme Court cases dealing with the rights of citizens under the Fourteenth Amendment post-Civil War, significant for their interpretations of federal versus state powers.