Macroeconomics

MCQ - 223-4233

Question:

An import quota on foreign automobiles is expected to

increase domestic efficiency and protect domestic producers at the expense of foreign producers.
decrease the price of automobiles and protect domestic consumers at the expense of foreign producers.
increase the price of automobiles and protect domestic producers at the expense of consumers.
decrease the price of automobiles and protect domestic consumers at the expense of foreign producers.
decrease domestic efficiency and protect domestic producers at the expense of domestic autoworkers.

Correct Answer: C

Explanation:

Import quotas protect domestic producers at the expense of the higher price paid by consumers.

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