A. never
B. sometimes
C. always
D. None of these
Tariffs
Tariffs
A. the domestic price of the product will increase by more than the tariff itself
B. The domestic price of the product will increase by the same amount as the tariff
C. The domestic price of the product will increase by less than the tariff
D. None of the above
A. scientific tariff argument
B. infant industry argument
C. beggar they neighbor argument
D. foreign dumping argument
A. a revenue effect and redistribution effect
B. revenue effect and protection effect
C. consumption effect and protection effect
D. redistribution effect and consumption effect
A. distinguishes between tariffs that are effective and those that are ineffective
B. is the minimum level at Which a tariff becomes effective in limiting imports?
C. shows how effective a tariff is in raising revenue for the government
D. shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms
A. fixed amount of money per unit traded
B. a percentage of money per unit traded
C. a percentage of the quantity of imports
D. All of the above
A. valid for stereos, but nor for most products imported by Pakistan
B. valid for most products imported by Pakistan but not for stereos
C. deceiving since Koreans eventually spend the dollars on Pakistani goods
D. deceiving since the dollars spent on a stereo built in the Pakistan eventually wind up overseas
A. equals to tariffs on imported manufactured goods
B. lower than tariffs on imported manufactured goods
C. higher than tariffs on imported manufactured goods
D. The highest of all tariffs
A. Ad valorem tariff
B. Specific tariff
C. Effective tariff
D. Compound tariff
A. The purpose is to maintain protection for an indefinite time period
B. The industry is characterized by increasing returns to scale
C. The economy operates during a recession
D. The protected industry provides invaluable goods during periods of war
