________ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods?

Related Mcqs:

1. According to the _____ argument for protection, tariffs can shield new industries from import competition until they have grown strong and efficient enough to withstand the competition by foreign producers ?

   A. scientific tariff argument
   B. infant industry argument
   C. beggar they neighbor argument
   D. foreign dumping argument

2. What is called protection of domestic producers by impeding or limiting the importation of foreign goods and services ?

   A. Domestication
   B. Protectionism
   C. Localization
   D. National interest

3. 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 ?

   A. Orderly marketing
   B. trigger pricing
   C. domestic content pricing
   D. dumping

4. Import substitution is the replacement of ____ by domestic production _____ protection of ________?

   A. exports, subsidies
   B. exports, patents
   C. imports, high tariffs or import quotas
   D. imports, subsidies

5. What is called the advocacy of protecting domestic producers by impeding or limiting the importation of foreign goods and services ?

   A. Domestication
   B. Protectionism
   C. Localization
   D. National interest

6. Micheal Roemer’s three-sector model shows that growth in the booming export sector I- reduces the price of foreign exchange II- retards other sectors’ growth by reducing incentives to export other commodities III- reduces incentives to replace domestic goods for imports IV- raises factor and input prices for non-booming sectors ?

   A. I and III only
   B. II and III only
   C. I, II and III only
   D. I, II , III only IV

7. S = Savings, I = domestic investment, X = exports of goods and services, and M = imports of goods and services Which of the following is true ?

   A. S – I = X = M
   B. S + I = X + M
   C. S = I – (X+M)
   D. S-I = X/M

8. The booming of North Seas’ gas export revenues in the 1970s that appreciated the guilder, making industrial export more costly in foreign currencies and increasing foreign competition and unemployment is known as ?

   A. Trade deficit
   B. Blind river disease
   C. Dutch disease
   D. Economic turmoil

9. Many U.S firms have sought relief from foreign competition by demanding protectionism policies by the U.S government. A better way for companies to compete is to expand into foreign markets and ?

   A. lower prices
   B. increase promotion both at home and abroad
   C. continuously improve their products at home
   D. join into cartels at home

10. Tariffs are used to protect infant industries these industries are those which ?

    A. employ many young or untrained workers
    B. are competing with well-established overseas firms
    C. are not yet large enough to achieve economies of scale
    D. use a new technology