When the United States imposed restrictions on imported steel in the 1950s and 1960s, the U.S. steel industry responded by:
A. raising prices and channeling profits from their steel production into other activities.
B. raising prices and investing more in steel production.
C. lowering prices and channeling profits from their steel production into other activities.
D. lowering prices and investing more in steel production.
Answer: A
You might also like to view...
Microeconomics focuses on: a. economic growth
b. trade balances. c. unemployment. d. the actions of individual households.
Which of the following is true about fiscal policy?
What will be an ideal response?
eBay does not qualify as a market for the good being sold because it is not a specific, physical location.
Answer the following statement true (T) or false (F)
Labor productivity can increase even if the labor force increases.
Answer the following statement true (T) or false (F)