The deadweight cost of the tariff equals ?
A. $10,000
B. $25,000
C. $50,000
D. $75,000
Economics Mcqs
With the tariff, the quantity of imports falls to ?
With the tariff, the quantity of imports falls to ?
A. 12,000 units
B. 20,000 units
C. 30,000 units
D. 42,000 units
With free trade the total quantity of imports would equal ?
With free trade the total quantity of imports would equal ?
A. 10,000 units
B. 40,000 units
C. 42,000 units
D. 50,000 units
In developed countries, tariffs on raw materials tend to be ?
In developed countries, tariffs on raw materials tend to be ?
A. highest of all
B. higher than on manufactured goods
C. equal to tariffs on manufactured goods
D. lower than on manufactured goods
The difference between what consumers have to pay for a particular and what they are willing to pay is known as ?
The difference between what consumers have to pay for a particular and what they are willing to pay is known as ?
A. consumer surplus
B. producer surplus
C. deadweight costs
D. deadweight surplus
_______ represents the difference between what consumer have to pay for a product and what they are willing and able to pay ?
_______ represents the difference between what consumer have to pay for a product and what they are willing and able to pay ?
A. producer surplus
B. deadweight surplus
C. government surplus
D. consumer surplus
If a nation fitting the criteria for the small nation model imposes a 10 percent tariff on imports of autos ?
If a nation fitting the criteria for the small nation model imposes a 10 percent tariff on imports of autos ?
A. The price of autos within the nation will rise by 10 percent
B. The price of autos within the nation will rise by less than 10 percent
C. The price of autos within the nation will rise by more than 10 percent
D. The price of autos will not rise because of internal competition
A foreign-trade zone (FTZ) is ?
A foreign-trade zone (FTZ) is ?
A. a regional area within which trade with foreign nations is allowed
B. a free trade agreement among several nations
C. designed to limit exports of manufactured goods by placing export taxes on goods made within the zone
D. designed to promote exports by deferring imports duties on intermediate inputs and waving such duties if the final product is re-exported rather than sold domestically
Most tariffs have ?
Most tariffs have ?
A. only revenue effects
B. only protective effects
C. Both protective and revenue effects
D. neither protective or revenue effects
Ad valorem tariffs are collected as ?
Ad valorem tariffs are collected as ?
A. fixed amounts of money per unit traded
B. a percentage of the price of the product
C. a percentage of the quantity of imports
D. All of the above