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 ?

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

During periods of growing domestic demand, an import quota ?

A. is less restrictive on a country’s imports than a tariff
B. Is more restrictive on a country’s imports than a tariff
C. has the same restrictive effect on a country’s imports as a tariff
D. will always generate increased tax revenue for the government

international dumping may involve ?

A. selling goods to foreigners at a price below that charged domestic consumers
B. selling goods to foreigners at a price below the cost of production
C. antidumping duties being levied on the imported, dumped goods
D. All of the above

A tariff-rate quota ?

A. is a limit on the number of tariffs that a country can place on imports?
B. uses a single tariff along with import quotas to restrict import
C. is designed to avoid the the price increases caused by simple tariffs
D. is a two-tier tariff system intended to restrict imports?

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