Under U.S. commercial policy, the escape clause results in
A) temporary quotas granted to firms injured by import competition.
B) tariffs that offset export subsidies granted to foreign producers.
C) a refusal of the U.S. to extradite anyone who escaped political oppression.
D) tax advantages extended to minority-owned exporting firms.
E) tariff advantages extended to certain Caribbean countries in the U.S. market.
A
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A firm calculated that the income elasticity of demand for its signature product was equal to (+)0.87. Based on this information, we can say that the firm's product is:
a. A substitute good b. A complementary good c. An inferior good d. A normal good
An increase in regulation will shift the aggregate:
a. demand curve leftward. b. supply curve rightward. c. supply curve leftward. d. demand curve rightward.