An Import Quota Is an Example of

question 77

Multiple Choice

An import quota is an example of

• A) a price ceiling.
• B) a price floor.
• C) a queuing device.
• D) a quantity restriction.

Recognize the factors and activities that are included or excluded in the calculation of GDP.

Analyze the impact of changes in GDP and the GDP deflator on economic well-being.

Understand the role of transfer payments and government spending in national economic accounts.

Distinguish between intermediate goods and final goods in the context of GDP calculation.