Suppose that Far North Canadian Lumber, Ltd., sells lumber in Canada at a price of $1,000 per 1,000 board feet and exports the same lumber to the United States at a price of $600 per 1,000 board feet. U.S. Lumber, Inc., produces and sells lumber for $700 per 1,000 board feet in the United States. How large an antidumping duty will the United States apply to lumber imports from Far North Canadian Lumber, Ltd.?
a. $100
b. $200
c. $300
d. $400
Ans: d. $400
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The social security tax is called FICA, which stands for:
a. Federal Investment Corporation of America. b. Federal Income Contributions to Americans. c. Funding from Individuals and Corporations in America. d. Federal Insurance Contributions Act.
When the aggregate demand curve shifts to the right, intersecting the aggregate supply curve on its upward-sloping or vertical segment,
a. demand-pull inflation occurs. b. cost-push inflation occurs. c. stagflation occurs. d. deflation occurs. e. the shift pulls the price level down.
Capitalistic System
What will be an ideal response?
Which of the following is a factor of production?
A) a sofa produced by a furniture manufacturer B) 20 shares of Microsoft stock C) the janitor at the local elementary school D) $500 in cash