Suppose that the U.S.imposed an import quota on beef.Sales of U.S.beef producers would
A)rise and exports of other industries would increase.
B)rise and exports of other industries would decrease.
C)not change,exports of other industries would increase.
D)not change,exports of other industries would decrease.

Question

Quizplus · Accepted Answer

The import quota on beef would limit the quantity of beef imported from foreign countries, resulting in a decrease in the domestic supply of beef. As a result, the sales of US beef producers would increase, as they would have less competition, but exports of other industries would decrease since the foreign countries imposing retaliatory measures would limit the US exports to their countries.

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