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MMLU / Which of the following is a predictable consequence of import quotas?

Problem

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question

Which of the following is a predictable consequence of import quotas?

choices

  1. Increased competition and lower consumer prices
  2. Increased government tax revenue from imported goods
  3. Rising net exports and a rightward shift in aggregate supply
  4. Higher consumer prices and a misallocation of resources away from efficient producers

subject

high_school_macroeconomics

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Source and history

Official source

initial import