1.-In the long run, increased import quotas by Mexico's government would tend to: A: Increase Mexico's...
1.-In the long run, increased import quotas by Mexico's government would tend to:
A: Increase Mexico's imports and decrease its exports
B: Decrease imports and increase exports
C: Decrease imports and exports
D: Increase imports and exports
2.-For the United States, antidumping laws tend to result in:
A: Decrease in consumer surplus
B: Lower tax revenue for the U.S. government
C: A ceiling imposed on foreign prices
D: a decrease in producer surplus
The U.S> constitution allows the country to levy tariffs
A: only on imports
B: only on exports
C: neither
D: both
Homework Answers
1. Ans - C) Decrease imports and exports
Explanation:
Due to increased import quotas it leads to reduce imports and as imports are in long run leads to other country impose tariff on Mexico export leads to reduce in exports too.
2. Ans - A) Decrease in consumer surplus
3. Ans - A) only on imports
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