1)"Gasoline prices have increased greatly during the past year. Using economic concepts from class, explain why and mention at least one external shock."     2) What is the effect of an import quota?     Reduce quantity of imported product and decrease price to consumers in importing country     Reduce quantity of imported product and increase price to consumers in importing country     Increase quantity of imported product and decrease price to consumers in importing country     Increase quantity of imported product and increase price to consumers in importing country

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