If Import Restrictions Prohibit Foreigners from Selling Various Goods in the U.S

question 173

Multiple Choice

If import restrictions prohibit foreigners from selling various goods in the U.S. market,

• A) the United States will be able to export more goods abroad.
• B) foreigners will have fewer U.S. dollars with which to buy goods from Americans.
• C) the United States will be able to produce a larger output than would otherwise be the case.
• D) the domestic producers in the protected industries will supply goods to U.S. consumers at lower prices than would otherwise be the case.

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Definitions:

Tax

A mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Diet Pepsi

A low-calorie carbonated soft drink produced by PepsiCo, branded as a healthier alternative to regular Pepsi.

Beverages

Drinkable liquids excluding water, such as tea, coffee, soda, and alcohol.

Corporate Taxation

The tax levied by governments on the profits earned by corporations, affecting their net income and financial decisions.