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?

Academy of PakistanTest & Learning

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Academy of PakistanTest & Learning

804Active Users

306EconomicsMedium

AU.S oil was of superior quality and merited higher prices

BThe U.S government needed the quota revenue to balance its budget

Cone should not be too dependent on foreign suppliers of crucial resources

DU.S oil companies and workers deserved higher incomes

Correct answer

C. one should not be too dependent on foreign suppliers of crucial resources

Explanation

The correct answer is one should not be too dependent on foreign suppliers of crucial resources.

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? - Answer and Explanation | Academy of Pakistan