If the United States imposes a tariff on imported steel, the tariff will
A) raise the U.S. price of imported steel.
B) decrease the U.S. production of steel.
C) increase the total U.S. consumption of steel.
D) decrease employment in the U.S. steel industry.
A
You might also like to view...
The major cause of a 3-4% increase in unemployment over a short time period is likely to be a structural unemployment change
Indicate whether the statement is true or false
A monopolistic competitor incurs an average total cost of $20 while producing the profit-maximizing output of 900 units. If the profit earned by the monopolist $1,800, the price per unit of output is _____
a. $18 b. $22 c. $25 d. $20
When the average total cost curve is rising, the marginal cost curve will be
A. Below the average fixed cost curve. B. Below the average total cost curve. C. Above the average total cost curve. D. Falling with greater output.
The presence of discouraged workers:
A. increases the size of the labor force but does not affect the unemployment rate. B. reduces the size of the labor force but does not affect the unemployment rate. C. may cause the official unemployment rate to understate the true amount of unemployment. D. may cause the official unemployment rate to overstate the true amount of unemployment.