A new U.S. import quota on imported steel would be likely to:
a. reduce the cost of production to steel-using American firms.
b. generate tax revenue to the government

c. increase U.S. production of steel.
d. increase the production of steel-using American firms.


c

Economics

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Refer to the above figure. Suppose the economy is at E originally, when the dollar increases in value. Which aggregate supply curve applies if the value of real GDP increases?

A) 1 B) 2 C) 4 D) 5

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An example of a negative externality is: a. the benefit you receive when your neighbor installs a smoke detector

b. the reduction in profits for your company that occurs when there is a decrease in consumer demand for the product you manufacture. c. the sleep you lose when your neighbor throws a loud party next door that keeps you awake. d. the change in the property values of your neighbors' homes when you paint your house and landscape your front yard

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Refer to the graph shown. The output range in region c is associated with:

A. constant returns to scale. B. diminishing marginal productivity. C. economies of scale. D. diseconomies of scale.

Economics

A carbon tax would increase the total volume of greenhouse gases.

Answer the following statement true (T) or false (F)

Economics