Relative to the equilibrium world price

Assignment Help Business Economics

Reference no: EM13984444

Assume that the United States imposes an import quota on Italian shoes. Relative to the equilibrium world price that would exist in the absence of import quotas, the equilibrium price of shoes in the United States will most likely _____, and the equilibrium price of shoes in Italy will most likely _____.

increase; decrease

decrease; remain the same

decrease; increase

increase; remain the same

Reference no: EM13984444

Questions Cloud

Briefly describe what you find particularly interesting : Please do not attempt to summarize these readings and talk, but rather briefly describe what you find particularly interesting/surprising/confusing in these. Readings- Charting the Economic Life Cycle by Ronald Lee Sang-Hyop Lee and Andrew Mason

Write five lines about the trinity in richard of st victor : Write eight lines about the notions of procession, relation, and person in Thomas Aquinas, or about the Trinity in St. Bonaventure.

Greater consumption of luxury goods and less saving : An economy at the top of a stock market bubbles will impact consumers by encouraging A. greater consumption of luxury goods and less saving. B. more work and delaying retirement. C. greater consumption of luxury goods and greater saving. D. more inve..

Holiday season the price of poster-size copies increases : Phil's Copy Studio pays its workers $60 per day and sells poster-size copies for $10 per print. Now suppose during the holiday season the price of poster-size copies increases to $12. What happens?

Relative to the equilibrium world price : Assume that the United States imposes an import quota on Italian shoes. Relative to the equilibrium world price that would exist in the absence of import quotas, the equilibrium price of shoes in the United States will most likely _____, and the equi..

Country has the comparative advantage in producing cloth : If a country has the comparative advantage in producing cloth, in the market for cloth the autarky price would be _____ the world price and the country would _____ cloth.

An increase in the demand for autoworkers : An increase in the demand for autoworkers may come about because of all of the following EXCEPT a(n):

Same amount of monopsony power : Does Major League Baseball impose more, less, or the same amount of monopsony power on rookie players (those in their first few years in the majors) as on veteran players (say. those with 10+ years in the majors)? In explaining your answer, explain t..

Is relation between investment level and income per capita : Explain in what sense coordination failure can lead to multiple equilibria in a given economy. Provide an economic example of coordination failure.

User Account

All Pages