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
Related Mcqs:
- 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 - For advanced countries such as the United States, tariffs on imported raw materials tend to be ?
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 - Concerning the hypothesis that there has occurred a long run deterioration in the developing countries terms of trade empirical studies provide ?
A. mixed evidence that does not substantiate the deterioration hypothesis
B. overwhelming support for the deterioration hypothesis
C. overwhelming opposition to the deterioration hypothesis
D. None of the above - In the Px = export price index, Pm = import price index, Qx = export quantity index,and Qm = import quantity index. Developing countries tend to maintain that their commodity term of trade have declined over the long run suggesting that _________ has declined?
A. Px/Pm
B. Pm/Px
C. (Pm/Px)Qm
D. (Px/Pm)Qx - For the United States empirical studies indicate that over the past two hundred years the cost of international transportation relative to the value of U.S imports has ?
A. increased
B. Decreased
C. Not changed
D. Any of the above - 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 - 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 - 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 - In developed countries, tariffs on raw materials tend to be ?
A. highest of all
B. higher than on manufactured goods
C. equal to tariffs on manufactured goods
D. lower than on manufactured goods - Most empirical studies show that firm’s cost curves ?
A. slope up to the right
B. are U-shaped
C. slope down to the right
D. slope down to the right and then level off.
