The United States imposes a quota on sugar imports
a. because sugar is considered unhealthy
b. because sugar cannot be produced in the U.S.
c. to avoid having to pay billions of dollars annually to support domestic sugar prices
d. to avoid having to pay billions of dollars annually to support foreign sugar prices
e. because a tariff would not be efficient
A
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According to New Keynesians, an increase in which of the following will tend to cause the inflation rate to increase?
A) firms' average inflation adjusted per-unit costs of production B) anticipated future inflation C) an unexpected increase in aggregate demand D) all of the above
A physician who laid off her nurse and receptionist and performed their tasks herself would probably
A) decrease her accounting profit but increase her economic profit. B) decrease her profit from the economist's point of view even if she increased her accounting profit. C) increase both her accounting and economic profit if her practice was a busy one. D) wind up with lower labor costs unless the layoff greatly increased the demand for her professional services. E) work more efficiently in order to get everything done.