The expiration of the Multifibre Arrangement in 2005 caused welfare gains for the average U.S. household of approximately:
A) $100.
B) $100 annually.
C) $1,000.
D) $1,000 annually.

Question

Quizplus · Accepted Answer

The expiration of the Multifibre Arrangement in 2005 led to welfare gains for the average U.S. household of approximately $100 annually, due to increased competition and lower prices for clothing and textiles.

The Expiration of the Multifibre Arrangement in 2005 Caused Welfare