A Change in _____ Will Cause a Change in the Quantity

question 39

Multiple Choice

A change in _____ will cause a change in the quantity demanded of real GDP.

• A) consumer spending
• B) investment
• C) the price level
• D) imports

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Definitions:

Tariff

A tax imposed on imported goods, typically aimed at protecting domestic industries or raising government revenue.

Voluntary Export Restraint

An agreement between exporting and importing countries where the exporter agrees to limit the quantity of goods exported to the importing country.

Quota

A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a particular time frame.

Tariff

A tax imposed by a government on goods and services imported from other countries, intended to increase their price and make domestic products more competitive.