Explore topic-wise MCQs in Economics Mcqs.

Similar to import tariffs import quotas tend to result in ?

Quotas are government-imposed limits on the _________ of goods trade between countries?

A tariff-rate quota ?

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 ?

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

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

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 ?

___________ are quotas that lead to a complete abolishment of trade?

The home country government can confiscate the revenue effect of an import quota if ?

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 ?

By practicing price discrimination, the firm would realize profits totaling ?

The welfare effects of a quota depend to a considerable extent upon ?

In certain industries Japanese employers hesitate to lay off workers Therefore they sometimes have excess supplies of goods that they cannot sell on the home market without lowering prices. To hold down losses they sell goods in overseas markets at prices well beneath those in japan This practice is best referred to as ?

Throughout the world, governments tend to auction quota licenses to their highest bidder ?

Import quotas tend to result in all of the following except ?

To maintain that South koreans are dumping their DVDs in the United States is to maintain that ?

What type of trade barrier was used to protect U.S auto firms from foreign competition during 1981 – 1984 ?

The firm would maximize profit by selling computers in the United States at a price of __________ and _________ computers in Japan at a price of __________?

The form of international price discriminations (dumping) normally associated with economic recession or excess inventories in the exporting nation is known as ?

A tariff-rate quota is essentially a ?

Under a tariff- rate quota ?

Suppose that the domestic government allows a specific number of goods to be imported each year, but it does not specify from where the product is shipped or who is permitted to import Such a trade barrier is known as ?

Nontariff trade barriers could include all of the following except ?

________ occurs when a firm disposes on foreign markets a temporary increases in inventories caused by unforeseen changes in supply and demand conditions in the home economy?

Buy national policies ?

If imports licenses are auctioned off to domestic importers in competitive market their scarcity value (revenue effect) accrues to ?

In a tariff and import quota lead to equivalent increase in the domestic price of steel, then ?

During periods of growing domestic demand, an import quota ?

If a tariff and import quota lead to equivalent increases in the domestic price of steel, then ?

Antidumping duties are used to ?

In the absence of traded, Norway’s equilibrium price and quantity equal ?

To reduce imports, suppose that the government of Norway’s imposes a quota equal to 800 computers, Compared to what occurred under free 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(n) ________ is n example of a quota where foreigners hold quota licenses ?

To aid its calculator producers, suppose that the government provides them a subsidy of $10 for each calculator produced The amount of imports now equals _____ and the deadweight loss of the subsidy to the Canadian economy equals _________?

In the absence of trade, Canada’s equilibrium price and quantity equal ?