HKCEE Economics Past Paper 3.3 Quota PDF
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Summary
This document contains past paper questions from the HKCEE Economics exam, specifically focusing on quotas. The questions cover topics like the effects of quotas on market prices, total sales revenue, and import volumes. The questions range from multiple-choice to analytical problems, including graph interpretation.
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HKCEE ECONOMICS | 3.3 Quota | P.1 1. 1994/II/12 If the government imposes an effective quota on good Y, the market price of Y will _____ and its quantity transacted will _______. A. increase…increase B. increa...
HKCEE ECONOMICS | 3.3 Quota | P.1 1. 1994/II/12 If the government imposes an effective quota on good Y, the market price of Y will _____ and its quantity transacted will _______. A. increase…increase B. increase…decrease C. decrease…increase D. decrease…decrease 2. 1994/II/13 Refer to Question 1. The consumers’ total expenditure on good Y will A. decrease. B. increase. C. remain unchanged. D. increase or decrease, depending on the price elasticity of demand for good Y. 3. 1999/II/7 The abolition of an effective quota on an imported good will result in (1) a fall in its price. (2) an increase in its import volume. (3) an increase in its total sales revenue. (4) an improvement in its quality. A. (1) and (2) only B. (1) and (3) only C. (1), (3) and (4) only D. (2), (3) and (4) only 4. 2006/II/10 In country A, there is a quota restriction on an imported good. When the import quota quantity is Q1, the market price of the good is P1. Now suppose Country A increases the quota quantity from Q1 to Q3 as shown in the diagram below. As a result, the new total sales revenue would be A. P1 × Q1 B. P2 × Q2 C. P1 × Q3 D. P3 × Q3 5. 2007/II/8 China abolished the car import quota system in 2005. As a result , ___________ in China will increase A. the price of cars B. the sales volume of cars C. the income of workers in the car manufacturing industry D. the revenue from car sales 44 HKCEE ECONOMICS | 3.3 Quota | P.2 6. 2008/II/9 Country A reduces the quantity of an effective quota on clothing imported from Country B. At the same time, imported clothing from other countries to Country A has become cheaper. Which of the following graphs can illustrate the changes in Country A’s market of clothing imported from Country B? E1 is the original equilibrium point and E 2 is the new equilibrium point. 45
