Which of the Following Groups Would Be Most Likely to Benefit

question 55

Multiple Choice

Which of the following groups would be most likely to benefit from a tariff on Japanese-manufactured light trucks (i.e., pickup trucks) ?

• A) U.S. domestic pickup truck manufacturers
• B) Japanese auto workers
• C) U.S. consumers of pickup trucks
• D) U.S. firms that export products to Japan

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Definitions:

Current Account Surplus

Occurs when a country's total exports of goods, services, and transfers exceed its total imports.

Financial Account Deficit

A situation where a country's financial outflows to other countries exceed the inflows from them.

Current Account Surplus

A situation where a country's earnings from exports exceeds its spending on imports, leading to net positive income from foreign transactions.

Balance of Trade

The net difference in value between a country's exports and imports over a certain period.