In 2002,the United States Placed Higher Tariffs on Imports of Steel.According

question 89

Multiple Choice

In 2002,the United States placed higher tariffs on imports of steel.According to the open-economy macroeconomic model this policy should have

• A)reduced imports into the United States and made U.S.net exports rise.
• B)reduced imports into the United States and made the net supply of dollars in the foreign exchange market shift right.
• C)reduced imports of steel into the United States,but reduced U.S.exports of other goods by an equal amount.
• D)reduced imports of steel into the United States and increased U.S.exports of other goods by an equal amount.

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Definitions:

Balance Sheet

A balance sheet is a financial statement that provides a snapshot of a company's financial position, showing assets, liabilities, and equity at a specific point in time.

Deduction

An amount that is allowed to be subtracted from gross income in order to reduce taxable income, thus lowering the overall tax liability.

Direct Write-Off Method

An accounting method where uncollectible accounts receivable are written off directly against income at the time they are deemed uncollectible.

Uncollectible Accounts

Financial debts deemed unrecoverable from debtors that are often written off as bad debt expense.