If the United States were to produce all of its own steel rather than importing large quantities of steel from other nations,the effect would be
A) To make steel consumers, such as auto manufacturers, better off.
B) To lower steel prices because steel would not have to be transported as far.
C) To draw resources necessary to make steel away from the rest of the economy, slowing the economy as a whole.
D) To improve the well-being of foreign steel producers because they would not have to ship steel all the way to the United States.
Correct Answer:
Verified
Q47: Which of the following would increase the
Q48: How does expanding worldwide trade produce gains
Q49: Which of the following statements about comparative
Q50: If the value of one U.S.dollar goes
Q51: Which of the following countries had the
Q53: Which country received the most U.S.exports in
Q54: Which of the following policies would benefit
Q55: Protectionist policies include all of the following
Q56: Selling exports to foreign purchasers,borrowing money from
Q57: From which country did the United States
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