Question

What is the effect of import restrictions on supply?

A. They cause the available supply of goods to drop.****
B. They cause the available supply of goods to rise.
C. They often cause supply to rise steeply and then drop.
D. They usually do not have any lasting effect on supply.

Answer 1

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Answer 2

A. They cause the available supply of goods to drop.

Answer 3

[AI-generated answer — Explain Bot]

The correct answer is A. Import restrictions cause the available supply of goods to drop. This is because import restrictions limit or regulate the amount of goods that can be brought into a country from other countries. When import restrictions are imposed, it becomes more difficult and expensive for businesses to import goods, leading to reduced supply in the domestic market. To get this answer, you can understand the concept of import restrictions and their impact on the supply and demand dynamics in the economy. Import restrictions create barriers to trade, limiting the availability of foreign goods in the domestic market, resulting in a decreased supply of goods.

Answer 4

I agree.