U.S. imports of sugar are limited by an import quota that, according to a study updated in 2013, imposed a total cost on American consumers close to $________, or an average cost of ________ per year for every man, woman, and child in the country
A) $3 billion; $10
B) $105 million; $3
C) $2 billion; $110
D) $3 billion; $2,000
E) $370 million; $2,000
A
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Sales taxes are regressive
Indicate whether the statement is true or false
The direct transfer of goods and services rather than cash is known as
A. Poverty support. B. In-kind transfers. C. Welfare income. D. Transfer payments.
Answer the question based on the following price and output data over a five-year period for an economy that produces only one good. Assume that year 2 is the base year.YearUnits of OutputPrice Per Unit18$22103315441855206The percentage increase in real GDP from year 2 to year 4 is:
A. 40 percent. B. 80 percent. C. 100 percent. D. 60 percent.
Which of the following is NOT a barrier to entry?
A. patents B. U.S. antitrust legislation C. economies of scale D. licenses