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Non-Tariff Trade Barriers

For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ?

Economics Mcqs, Non-Tariff Trade Barriers /
For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ?

A. U.S oil companies and workers deserved higher incomes
B. U.S oil was of superior quality and merited higher prices
C. one should not be too dependent on foreign suppliers of crucial resources
D. The U.S government needed the quota revenue to balance its budget

For year the U.S government levied quotas on inexpensive oil imported from the Middle East The quotas led to cost increases for U.S consumers totaling $3 billion for oil products. An apparent justification of this policy was that ? Read More »

Economics Mcqs, Non-Tariff Trade Barriers

If the home country government grants a subsidy on a domestically produced good domestic producers tend to ?

Economics Mcqs, Non-Tariff Trade Barriers /
If the home country government grants a subsidy on a domestically produced good domestic producers tend to ?

A. Capture the entire subsidy in the form of higher profits
B. Increase their level of production
C. reduce wages paid to domestic workers
D. consider the subsidy as a increase in production cost

If the home country government grants a subsidy on a domestically produced good domestic producers tend to ? Read More »

Economics Mcqs, Non-Tariff Trade Barriers

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ?

Economics Mcqs, Non-Tariff Trade Barriers /
A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ?

A. domestic subsidy
B. export subsidy
C. import quota
D. export quota

A specification of a maximum amount of a foreign produced good that will be allowed to enter the country over a given time period is referred to as a (an) ? Read More »

Economics Mcqs, Non-Tariff Trade Barriers

Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ?

Economics Mcqs, Non-Tariff Trade Barriers /
Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ?

A. lower the welfare of all Pakistanis
B. lead to increases in Pakistani consumer surplus
C. encourage Pakistan’s production of competing goods
D. encourage Pakistani workers to demand higher wages

Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ? Read More »

Economics Mcqs, Non-Tariff Trade Barriers

With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?

Economics Mcqs, Non-Tariff Trade Barriers /
With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ?

A. 20 calculators increase
B. 25 calculators decrease
C. 25 calculators increase
D. 30 calculators increase

With free trade, suppose that the rest of the world can supply calculators to Canada at a price of $30. Canada’s imports would now equal _____ and its consumer surplus would ____ relative to what occurred in the absence of trade. What is the change in consumer surplus? Refer to the figure that you have plotted ? Read More »

Economics Mcqs, Non-Tariff Trade Barriers

The reason for dumping is that the demand curve for ABC Co’s computers is _______ because ________ are available from other nations?

Economics Mcqs, Non-Tariff Trade Barriers /
The reason for dumg is that the demand curve for ABC Co’s computers is _______ because ________ are available from other nations?

A. more elastic in Japan, more substitutes are available from other nations
B. more elastic in Japan, fewer substitutes are available from other; nations
C. more inelastic in Japan; more substitutes are available from other; nations
D. more inelastic in Japan; fewer substitutes are available from other nations

The reason for dumping is that the demand curve for ABC Co’s computers is _______ because ________ are available from other nations? Read More »

Economics Mcqs, Non-Tariff Trade Barriers

From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ?

Economics Mcqs, Non-Tariff Trade Barriers /
From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ?

A. help more than they hurt
B. hurt more then they help
C. are equivalent to an import quota
D. are equivalent to an export quota

From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ? Read More »

Economics Mcqs, Non-Tariff Trade Barriers

With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?

Economics Mcqs, Non-Tariff Trade Barriers /
With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ?

A. 1,600 computers, decrease, increase
B. 1,600 computers, increase, decrease
C. 1,200 computers, decrease, increase
D. 1,200 computers, increase, decrease

With free trade suppose that the rest of the world can supply computers to Norway at a price of $1,500 Norway’s imports will now equal. Compared to What occurred in the absence of trade, Norway’s consumers surplus will _____ and its producer surplus will ____. Can you calculate these amounts? Try plotting the information of this table on a sheet of graph paper ? Read More »

Economics Mcqs, Non-Tariff Trade Barriers