Contractionary fiscal policy can lead to a depreciation of the nation's currency

Which one of the following interest groups would gain from the imposition of a quota on United States steel imports?

A. United States firms that build skyscrapers of steel and glass. B. Steelworkers in Pennsylvania and Ohio. C. United States industries that use farm equipment and machine tools. D. Foreign producers who sell steel in the United States.

Refer to Figure 23.4. In the long run, which of the following would not be expected?

A. A decrease in market supply. B. An increase in output for the remaining firms. C. An increase in total revenue for the remaining firms. D. A decrease in MR for the remaining firms.