Asked by
Ben Derrick Garing
on Oct 11, 2024
Verified
Which one of the following interest groups would gain from the imposition of a quota on United States steel imports?
A) United States firms that build skyscrapers of steel and glass.
B) Steelworkers in Pennsylvania and Ohio.
C) United States industries that use farm equipment and machine tools.
D) Foreign producers who sell steel in the United States.
Quota
A governmental limit on the quantity of a product that can be produced or imported within a given timeframe, often to protect domestic industries.
Steel Imports
The act of buying and bringing in steel from foreign countries into one's own country for use in manufacturing and construction.
Steelworkers
Individuals specialized in working with steel in various capacities, including manufacturing and construction, contributing to the production of steel products and infrastructures.
- Identify the effects of tariffs, quotas, and subsidies on international trade.
- Recognize the impact of trade policies and agreements on domestic industries and workers.
Verified Answer
RL
Learning Objectives
- Identify the effects of tariffs, quotas, and subsidies on international trade.
- Recognize the impact of trade policies and agreements on domestic industries and workers.