For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ?

Non-Tariff Trade Barriers 29/12/2020

A. U.S oil companies and workers deserved higher incomes
B. U.S oil was of superior quality and merited higher prices
C. one should not be too dependent on foreign suppliers of crucial resources
D. The U.S government needed the quota revenue to balance its budget

Related Mcqs:

    ___________ are quotas that lead to a complete abolishment of trade?
    A. embargoes B. voluntary export restraints C. nontariff barriers D. orderly marketing agreements...
    Nontariff trade barriers could include all of the following except ?
    A. domestic content laws B. government procurement policies C. health, safety, and environmental standards D. antidumping/countervailing duties applied to imports...
    The form of international price discriminations (dumping) normally associated with economic recession or excess inventories in the exporting nation is known as ?
    A. Predatory dumping B. sporadic dumping C. persistent dumping D. year end dumping...
    ________ are profits that accrue to whomever has the right to import the good that is restricted by the quota?
    A. quota license B. quota rents C. quota prices D. None of the above...
    Governments around the world tend to auction quota licenses ?
    A. never B. seldom C. often D. always...

Leave a Reply

Your email address will not be published. Required fields are marked *