QUESTION 17 A trade quota is O a restriction on the quantity of goods that can...

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Q17

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Option 1

A trade quota is restriction on the quantity of goods that can be imported

It is a limit on imports

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Q18

Answer

Option 3

The P domestic >P world

Means the country is importer of the good

The tariff increases price which raise revenue to the government

It increases the production in the domestic industry and reduces the consumption as the quantity demanded is lower at higher prices.

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Answer 2

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QUESTION 17 A trade quota is O a restriction on the quantity of goods that can...

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