What would happen if the European Union (E.U.) put a quota on American jeans and only allowed their countries to import 5,000 pairs of jeans? A. American jeans would become very expensive and desirable in the EU. B. French jeans would be more popular than any jeans and America would stop importing jeans to Europe. C. American jeans would be less desirable in the EU and there would be no demand. D. Nothing, because European countries dislike American products.
What would happen if the European Union (E.U.) put a quota on American jeans and only allowed their countries to import 5,000 pairs of jeans? A. American jeans would become very expensive and desirable in the EU. B. French jeans would be more popular than any jeans and America would stop importing jeans to Europe. C. American jeans would be less desirable in the EU and there would be no demand. D. Nothing, because European countries dislike American products.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter9: Application: International Trade
Section: Chapter Questions
Problem 2PA
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