Author Question: An import quota on a product protects domestic industries by: a. reducing the foreign supply to the ... (Read 74 times)

cagreen833 · **on:** Jun 30, 2018

An import quota on a product protects domestic industries by:
a. reducing the foreign supply to the domestic market and, thereby, raising the domestic price.
b. increasing the foreign supply to the domestic market and, thereby, lowering the domestic price.
c. increasing the domestic demand for the product and, thereby, increasing its price.
d. providing the incentive for domestic producers to improve the efficiency of their operation and, thereby, reduce their per-unit costs of production.

Question 2

According to the public choice theory, voters who choose to remain uninformed about the issues are behaving irrationally.
a. True
b. False
Indicate whether the statement is true or false