Not change the supply curve for chinese-made toys

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Reference no: EM131241706

In June 2007 a U.S. toy company was forced to recall 1.5 million “Thomas the Tank Engine” toys because they contained lead paint. The toys had been made in China. Several other recalls of Chinese-made toys with excess lead followed.

a) You would expect these recalls to "decrease" or "increase" the demand curve for Chinese-made toys.

b) You would expect these recalls to "increase" "decrease" or "not change" the supply curve for Chinese-made toys.

c) If the result were tighter regulation, prices would "rise or fall", "rise," or "fall," and the volume of imports would "rise" or "fall?"

d) Tighter regulation of Chinese-made toys would "decrease" or "increase" the U.S. trade deficit?

Reference no: EM131241706

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