Figure 1 E4 E2 3. Refer to Figure 1 above. Which of the following shifts show th

Question

Figure 1 E4 E2 3. Refer to Figure 1 above. Which of the following shifts show the effects of an import quota? a. shifting the middle supply curve in panel c to the one to its left. b. shifting the demand curve from the right to the left in panel c shifting the demand curve from the left to the right in panel c. d. None of the above is correct. 4. Refer to Figure 1 above. If the interest rate were initially at rz and an import quota were imposed, the interest rate would a. stay at r2 b. decrease because supply would shift right. c. increase because supply would shift left. d. decrease because demand would shift left. 5. Refer to Figure 1 abvove. If th e economy were initially in equilibrium at r2 and E, and the government removed import quotas, the exchange rate would a. appreciate to E. b. appreciate to E2. c. depreciate to E. d. depreciate to E. ull u doer this imply about the supply of

Explanation / Answer

3. The correct answer is B.

4. The correct answer is C.

5. The correct answer is D.

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