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 job saved in the U.S sugar industry
A) $3 billion; $10
B) $105 million; $3
C) $2 billion; $110
D) $3 billion; $1,000,000
E) $370 million; $20
D
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If 1 U.S. dollar exchanges for 3.98 Polish zlotys, how much would it cost in zloty to purchase a Ford Explorer priced at $23,000?
What will be an ideal response?
Under a fixed exchange rate regime, if a country's central bank runs out of international reserves, it cannot keep its currency from
A) depreciating. B) appreciating. C) deflating. D) inflating.
Which of the following would lead to a rapid growth of the money supply in the future?
a. the use of large excess reserves by banks to extend additional loans b. a reduction in government expenditures to reduce the size of the federal deficit c. an increase in government expenditures financed by taxes d. an increase in the interest rate the Fed pays banks holding excess reserves
Answer the following questions true (T) or false (F)
1. A normal good is a good for which the demand increases as income decreases, holding everything else constant. 2. The income effect explains why there is an inverse relationship between the price of a normal good and the quantity of the good demanded. 3. If consumers believe the price of iPads will decrease in the future, this will cause the demand for iPads to decrease now.