The effect of an import quota is to
A. increase the supply of the good and lower its price.
B. increase the supply of the good and increase its price.
C. increase the demand for the good and increase its price.
D. decrease the supply of the good and raise its price.
Answer:D
The effect of an import quota is to
A. increase the supply of the good and lower its price. B. increase the supply of the good and increase its price. C. increase the demand for the good and increase its price. D. decrease the supply of the good and raise its price.