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Economics Mcqs
Q
For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ?
AA. U.s oil companies and workers deserved higher incomes
BB. U.s oil was of superior quality and merited higher prices
CC. One should not be too dependent on foreign suppliers of crucial resources
DD. The u.s government needed the quota revenue to balance its budget
Correct Answer:
C. C. One should not be too dependent on foreign suppliers of crucial resources
