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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