American Textile Manufacturers and Union Members Have Often Lobbied Successfully

question 84

Multiple Choice

American textile manufacturers and union members have often lobbied successfully for restrictive quotas limiting the importation of textile products. The major impact of these quotas is

• A) a permanent reduction in unemployment in the United States.
• B) lower prices for American consumers and an improvement in the quality of textile products available.
• C) higher prices for American consumers, a narrower selection of products, and less competition in the U.S. textile industry.
• D) long-run profits in the U.S. textile industry that are substantially above market equilibrium.

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