The imposition of an import quota on steel by the U.S. government is likely to:
A) decrease the cost of production of steel-using American firms.
B) generate tax revenue for the government.
C) increase the production of steel in the U.S.
D) increase the production of steel-using American firms.
E) increase the quantity of steel demanded by U.S. consumers.
Correct Answer:
Verified
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A)domestic consumers
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A)income is transferred
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