Multiple Choice
In addition to deadweight losses, the 2009 tariff on Chinese tire imports shifted U.S. tire demand to other higher-cost import sources not subject to the tariff. What was the approximate value of the higher payments to these other higher-cost import sources?
A) $512 million per year
B) $817 million per year
C) $1,112 million per year
D) $5 billion per year
Correct Answer:
Verified
Correct Answer:
Verified
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