What would happen to U.S. economic welfare if the U.S. eliminated tariffs on solar panel imports?
a. U.S. economic welfare would increase because of the social gains from increased U.S. consumption of solar panels.
b. U.S. economic welfare would decrease because the social gains from increased U.S. consumption of solar panels would be less than the social costs inflicted on U.S. solar panel producers.
c. U.S. economic welfare would decrease because the social gains from increased U.S. production of solar panels would be less than the social costs associated with increased U.S. consumption of solar panels.
d. U.S. economic welfare would increase because the social gains from increased U.S. production of solar panels would exceed the social costs associated with increased U.S. consumption of solar panels.
Ans: a. U.S. economic welfare would increase because of the social gains from increased U.S. consumption of solar panels.
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For a normal good, a decrease in demand is caused by
A) a rise in income. B) a fall in income. C) a rise in price. D) a fall in price.
Which of the following statements about the FDIC is untrue? a. The FDIC helps prevent bank failures. b. The FDIC was created after the surge in bank failures in the 1980s. c. The FDIC is a government agency. d. The FDIC will reimburse depositors for their losses up to $100,000 per demand deposit account
e. The FDIC conducts bank audits and examinations.