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Between 2004 and 2008, the U.S. tire production declined and imports increased. Which of the following...

Between 2004 and 2008, the U.S. tire production declined and imports increased. Which of the following is likely to be an immediate effect of this situation?

The demand for tires declined substantially in the U.S. market.

The U.S. workers in the existing tire manufacturing units demanded wage hikes.

The trade surplus of the United States increased.

Some workers in the U.S. tire industry lost their jobs.
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