A U.S. import fee on oil would reduce the domestic quantity demanded of oil.

Name: A U.S. import fee on oil would reduce the domestic quantity demanded of oil.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

If a fee is added to the cost of importing oil, the price of oil will increase for domestic consumers. This increase in price will cause a decrease in the quantity demanded of oil, as consumers will look for alternative, cheaper sources or conserve their usage.

A US Import Fee on Oil Would Reduce the Domestic Quantity