'Recipe for Inflationary Pressures:' Holtz-Eakin on Trump Tariffs

'Recipe for Inflationary Pressures:' Holtz-Eakin on Trump Tariffs

Assessment

Interactive Video

Business, Social Studies

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

The transcript discusses the potential economic impact of tariffs on Canadian oil, highlighting the inflationary pressures and retaliatory measures from Canada and Mexico. It explores negotiation strategies, focusing on auto production and border control. The discussion also covers the inefficacy of tariffs in balancing trade deficits and generating revenue, and the role of the CBO in legislative scoring, emphasizing the challenges in achieving desired economic outcomes.

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7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one potential consequence of imposing a 25% tariff on Canadian oil?

No change in gasoline prices

Decrease in gasoline prices

Increase in food prices

Increase in gasoline prices

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the expected impact of tariffs on the U.S. economy according to the transcript?

Uncertain impact

Negative impact

Positive impact

No impact

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How might Canada and Mexico respond to U.S. tariffs?

By reducing oil exports

By implementing their own tariffs

By increasing trade with the U.S.

By ignoring the tariffs

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the key motivations for the U.S. administration's tariff policies?

To increase oil imports

To move auto production back to the U.S.

To reduce food imports

To decrease border security

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the key sticking points in the negotiations mentioned in the transcript?

Lower gasoline prices

Increased oil imports

Higher food prices

Better border controls

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a common misconception about tariffs according to the transcript?

They increase trade deficits

They are a major revenue source

They balance trade deficits

They have no impact on trade

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role does the CBO play in evaluating legislative efforts?

It scores tax legislation

It sets trade policies

It manages international relations

It enacts tariffs

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