If import restrictions prohibit foreigners from selling various goods and services in the U.S. market,
A) the U.S. will be able to export more goods abroad.
B) the U.S. will be able to produce more output than would be otherwise the case.
C) foreigners will have fewer U.S. dollars with which to buy U.S. goods and services.
D) the domestic producers in the protected industries will supply goods to U.S. consumers at lower prices than would be otherwise the case.
C) foreigners will have fewer U.S. dollars with which to buy U.S. goods and services.
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BHP Billiton is a Canadian company that owns mines in Canada that
A) produce nickel. After World War II, BHP Billiton began to compete with another Canadian firm, the International Nickel Company. This competition eventually ended International Nickel's monopoly in this market. B) produce coal. Until World War II, BHP Billiton had a monopoly on coal in Canada. C) produce bauxite, the mineral needed to produce aluminum. BHP Billiton began to mine bauxite after World War II. This competition eventually ended the Aluminum Company of America (ALCOA)'s monopoly in this market. D) produce diamonds.
Refer to Table 16-3. Suppose Julie's marginal cost of providing this service is constant at $7 and she charges $7. What is the value of the consumer surplus enjoyed by her customers?
A) $39 B) $28 C) $11 D) $0
Macroeconomics deals with the analysis of all of the following questions except
a. Why do national economies grow? b. What determines a nation's saving and investment? c. How does a central bank influence inflation? d. Why does a country experience recessions? e. How does Microsoft price its software packages?
Assume the central bank pursues contractionary monetary policy. What is the first round effect on the value of the domestic currency, if there is low mobility in the international capital markets?
a. The value of the currency rises. b. The value of the currency falls. c. The value of the currency is unaffected. d. The change in the value of the currency is ambiguous.