Figure 9-3 Since 1953 the United States has imposed a quota to limit the imports of peanuts. Figure 9-3 illustrates the impact of the quota.
-As a result of the tariff on Chinese tires, U.S. consumers are estimated to have spent ________ on imported tires and ________ on U.S.-produced tires.

Question

Figure 9-3  Since 1953 the United States has imposed a quota to limit the imports of peanuts. Figure 9-3 illustrates the impact of the quota.
-As a result of the tariff on Chinese tires, U.S. consumers are estimated to have spent ________ on imported tires and ________ on U.S.-produced tires.

Quizplus · Accepted Answer

The tariff on Chinese tires likely increased the price of imported tires, leading U.S. consumers to spend more on them. Additionally, the tariff may have made U.S.-produced tires more competitive, resulting in increased spending on them as well.

Figure 9-3 Since 1953 the United States Has Imposed