For many years the U.S.government imposed quotas on cheap, Middle Eastern oil imports.The U.S.consumer consequently paid $3 billion more per year for oil products.A likely rationale for such a policy is
A) people in the oil industry deserved the transfer.
B) conservation.
C) one cannot be dependent on foreign supplies of so crucial a resource.
D) American oil was of higher quality and deserved a higher price.
Correct Answer:
Verified
Q193: An import quota on a product normally
Q194: Is the call for protection on the
Q195: By tradition, Japanese employers cannot "lay off"
Q196: Which of the following statements regarding the
Q197: The Trade Adjustment Assistance program is intended
Q199: "Protection" is designed to help
A)firms whose relative
Q200: In William Safire's 1983 essay, "Smoot-Hawley Lives,"
Q201: Suppose the South had won the Civil
Q202: Why is comparative advantage rather than absolute
Q203: The United States can produce 1,000 shoes
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents