Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Tariffs

_______ 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

_______ represents the difference between what consumer have to pay for a product and what they are willing and able to pay ? Read More »

Economics Mcqs, Tariffs

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

If a nation fitting the criteria for the small nation model imposes a 10 percent tariff on imports of autos ? Read More »

Economics Mcqs, Tariffs

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

A foreign-trade zone (FTZ) is ? Read More »

Economics Mcqs, Tariffs

If we consider the impact on both consumers and producers, then protection of the steel industry is ?

If we consider the impact on both consumers and producers, then protection of the steel industry is ?

A. In the interest of the U.S as a whole but not in the interest of the state of Pennsylvania where steel mills are located
B. In the interest of the U.S as a whole and in the interest of the state of Pennsylvania
C. Not in the interest of the U.S as a whole, but it might be in the interest of the state of Pennsylvania
D. Not in the interest of the U.S as a whole, nor in the interest of the state of Pennsylvania

If we consider the impact on both consumers and producers, then protection of the steel industry is ? Read More »

Economics Mcqs, Tariffs