Question 1Examine the idea that the sugar import quota was viewed as a method of increasing the domestic price of sugar to offset the adverse effects of falling prices for U.S. sugar producers. Do you

Question 1

Examine the idea that the sugar import quota was viewed as a method of increasing the domestic price of sugar to offset the adverse effects of falling prices for U.S. sugar producers. Do you agree or disagree with this idea? Justify your response with one example.

Your response should be at least 200 words in length

Question 2

Suppose that the world price for cotton is below the U.S. domestic price but the government requires that all cotton used in the United States be domestically produced. What response to such a policy would you expect from industries (like textile producers) that use U.S. cotton?