A. lower the welfare of all Pakistanis
B. lead to increases in Pakistani consumer surplus
C. encourage Pakistan’s production of competing goods
D. encourage Pakistani workers to demand higher wages
Related Mcqs:
- From the perspective of the American public as a whole, export subsidies levied by overseas governments on goods sold to the United States ?
A. help more than they hurt
B. hurt more then they help
C. are equivalent to an import quota
D. are equivalent to an export quota - A way helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as ?
A. New classical economists.
B. Left wing theorists
C. interventionist policies.
D. monetarists. - A way of helping depressed regions by having wage subsidies lower business taxes and capital subsidies has been suggested as ?
A. New classical economists
B. left-wing theorists
C. interventionist policies
D. monetarists - 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 - What is called a group of countries that have removed all tariffs, quotas, and export subsidies on trade among themselves ?
A. Close-trade zone
B. Free trade zone
C. Both of them
D. None of them - 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 - If a government uses barriers to foreign products such as biases against a foreign company’s bids or product standards that go against a foreign company’s product features the government is using ?
A. Protectionism
B. exchange controls
C. exchange facilitators
D. nontariff trade barriers - The comparative advantage comes if each trading partners has a product that will bring a better price in another country than it will at home. Which economist proposed the principle of comparative advantage ?
A. Adam Smith
B. David Ricardo
C. David Smith
D. Adam Ricardo - 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 ?
A. U.S oil companies and workers deserved higher incomes
B. U.S oil was of superior quality and merited higher prices
C. one should not be too dependent on foreign suppliers of crucial resources
D. The U.S government needed the quota revenue to balance its budget - Suppose that the world price of tin is above the target (ceiling) price that is defined by an international commodity agreement. To move the world price toward the target price, a buffer stock agreement would require its buffer stock manager to ____ tin and an export quota agreement would require that member countries _________ their export of tin?
A. purchase; decrease
B. purchase; increase
C. sell; increase
D. sell; decrease
