An Import Quota Will Make the Supply Curve for the Imported

question 236

Multiple Choice

An import quota will make the supply curve for the imported good

• A) perfectly inelastic.
• B) perfectly elastic.
• C) unitary elastic.
• D) negatively sloped.

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Definitions:

Random Sampling

A method of sampling where every element of the population has an equal chance of being selected.

Luck Of The Draw

A phrase referring to the outcome being determined by chance rather than any controllable factors.

Probability Sampling

A sampling technique in which every member of the population has a known, non-zero chance of being selected.

Broader Population

Refers to a larger or more general group of individuals from which samples may be drawn for research or statistical analysis.