A. scientific tariff argument
B. infant industry argument
C. beggar they neighbor argument
D. foreign dumping argument
Related Mcqs:
- ________ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods?
A. generalized system of preference
B. countervailing duty
C. domestic content
D. safeguards - Concerning import tariffs of the United States empirical studies tend to conclude that these tariffs are ?
A. Progressive and thus bear down on the wealthy
B. regressive and thus bear down on the poor
C. proportional and thus bear down on all consumers in the same manner
D. deflationary and thus result in reductions in the price of imports - Similar to import tariffs import quotas tend to result in ?
A. higher prices and reduced imports
B. increased government revenue
C. increased consumer surplus
D. decrease producer surplus - 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 - 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 - When several countries jointly impose common external tariffs, eliminate tariffs on each other, and eliminate barriers to the movement of labor and capital among themselves, they have formed a/na ?
A. free trade area
B. customs union
C. common market
D. economic union - 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 - A sudden shift from import tariffs to free trade may induce short-term unemployment in ?
A. Import-competing industries
B. Industries that are only exporters
C. Industries that sell domestically as well as export
D. industries that neither import nor export - The national security argument for protection is more likely to be valid when ?
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 - 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
