A-LevelEconomicsInternational economic issues9708/31 · May/June 2020 · Q301 Mark
In 2018 the US imposed a tariff on steel imports.
- (a)What is the likely impact of this tariff on the US economy? A It will make US steel exports more price competitive. B It will lead to productive inefficiency in the US steel industry. C There will be a deterioration in the US's terms of trade. D There will be a decrease in producer surplus for US steel producers.[1]
Mark scheme
Marking points from the official mark scheme (May/June 2020). The mark or mark type is shown in brackets.
- [1] B
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