If the US Imposed an Import Quota on Sugar, Then in the in the U.S

question 4

Multiple Choice

If the U.S. imposed an import quota on sugar, then in the U.S.

• A) exports and imports would rise.
• B) exports and imports would fall.
• C) exports would rise and imports would fall.
• D) exports would fall and imports would rise.

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Definitions:

Industrial Policy

Government strategies aimed at improving the competitive position and capabilities of domestic industries and firms.

Taxes, Subsidies, and Regulations

These are tools used by governments to influence economic activity. Taxes are levies on income or purchases, subsidies provide financial support, and regulations set rules for how businesses can operate.

Specific Industries

Specific Industries are distinct sectors of the economy that produce or handle similar types of goods and services, such as the automotive or technology industries.

Displaced Workers

Individuals who have been laid off from their jobs because their positions have been eliminated, usually due to economic changes, technological advancements, or business restructuring.