Question

Government Restrictions like a U.S. import quota on Japanese television sets that reduces the supply of Japanese television sets in the United States will shift the supply curve ________. The elimination of the import quota allows the supply of Japanese television sets in the United States to shift _______.

Answer 1

Government restrictions such as import quotas can shift the supply curve leftward, reducing the supply of a particular good. The elimination of the import quota can shift the supply curve rightward, increasing the supply of the same good.

Step-by-step explanation:

Government restrictions like a U.S. import quota on Japanese television sets that reduces the supply of Japanese television sets in the United States will shift the supply curve leftward. The elimination of the import quota allows the supply of Japanese television sets in the United States to shift rightward.