A US quota limiting the import of cars from Japan to 1000 a year will have the following effect Select the correct answer below: reduce the price of Japanese cars on the domestic market cause the loss of jobs in the car manufacturing industry in the US increase the sale of US cars in the domestic market O reduce the profits of US car manufacturers

A US quota limiting the import of cars from Japan to 1000 a year will have the following effect Select the correct answer below: reduce the price of Japanese cars on the domestic market cause the loss of jobs in the car manufacturing industry in the US increase the sale of US cars in the domestic market O reduce the profits of US car manufacturers

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter9: Application: International Trade

Section: Chapter Questions

Problem 7PA

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An import quota the domestic price of the imported good. O mimics O always decreases O always increases O does not affect