42 Supply and Demand Analysis: an Oil Import Fee

question 13

Multiple Choice

4.2 Supply and Demand Analysis: An Oil Import Fee
Refer to the information provided in Figure 4.4 below to answer the questions that follow. Figure 4.4
-Refer to Figure 4.4. Assume that initially there is free trade. To reduce U.S. imports without a tax, the U.S. could

• A) increase pollution control regulations.
• B) allow drilling for oil in the Alaska National Wildlife Refuge.
• C) increase safety regulations for oil refineries.
• D) all of the above

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Definitions:

Leaf

In the context of a stem-and-leaf plot, represents the last digit of a number and is used to visualize data distributions.

Stem

The main structural part of a plant that typically rises aboveground, but in general contexts, it can refer to the basic or essential part of something.

Splitting

In data analysis or computing, it refers to the process of dividing data into more manageable parts or categories for specific analysis.

Pie Chart

A circular statistic graphic, which is divided into slices to illustrate numerical proportion.