When a country imposes tariffs, intending to protect domestic firms from foreign competition, it is pursuing _______–oriented policies

If the price of flashlights in production increases, then supply of ______ would most likely increase.

a. batteries b. pencils c. olive oil d. iron ore

The figure below represents the U.S. market for steel imports from Korea. The Korean government provides an export subsidy of $25 per ton, and Korean firms use the subsidy to reduce their export price to the United States to $375 per ton.Suppose the United States now imposes a countervailing duty on its steel imports from Korea to offset the impact of the subsidy provided by the Korean government on its steel exports. The change in U.S. national well-being due to the imposition of this duty is

A. +$3.75 billion. B. -$4.125 billion. C. +$3.375 billion. D. -$375 million.