Author Question: An import quota is a A) tariff imposed on goods that are dumped in the country. B) law that ... (Read 167 times)

Hungry! · **on:** Jun 29, 2018

An import quota is a

A) tariff imposed on goods that are dumped in the country.
B) law that prevents ecologically damaging goods from being imported into a country.
C) market-imposed balancing factor that keeps prices of imports and exports in equilibrium.
D) government-imposed restriction on the quantity of a specific good that can be imported.

Question 2

An assumption of the neoclassical theory of growth is that

A) people receive only subsistence real GDP per person.
B) all technological advances are the result of chance.
C) the marginal product of all types of capital increases as more capital is accumulated.
D) knowledge has diminishing returns.