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
Related Mcqs:
- Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?
A. None of these answers
B. Disagree because they have different scientific judgments
C. really don’t disagree at all. It just appears that they disagree
D. disagree because they have different values - Suppose there is no tariff on imported inputs and the ratio of the value of imported inputs the value of the final product is 0.5 If the nominal tariff rate on the final product is 10 percent, the effective tariff rate equals ?
A. 5 percent
B. 10 percent
C. 15 percent
D. 20 percent - By practicing price discrimination, the firm would realize profits totaling ?
A. $160,000
B. $420,000
C. $540,000
D. $660,000 - Export subsidies levied by foreign governments on products in which the Pakistan the comparative disadvantage ?
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 - Suppose that the domestic government allows a specific number of goods to be imported each year, but it does not specify from where the product is shipped or who is permitted to import Such a trade barrier is known as ?
A. an import tariffs
B. a tariff rate quota
C. a selective quota
D. a global quota - If the public consumes Rs 100 billion less and the government purchases Rs100 billion more (other things unchanging), Which of the following statement is true ?
A. Saving is unchanged
B. There is an increased in saving and the economy should grow more quickly
C. There is a decrease in saving and the economy should grow more slowly
D. There is not enough information to determine what will happen to saving - Quotas are government-imposed limits on the _________ of goods trade between countries?
A. prices
B. quantity
C. revenue
D. costs - Suppose that the offshore assembly provisions (OAP) of the United States are granted to finished computers that are imported and produced domestically This policy will tend to ?
A. cause foreign assemblers of computers to use more computer components that are supplied by countries other than the United States
B. Increase the Price of computers to consumers in the United States
C. Increase the Production of computers in the United States
D. Increase the production of computer components in the United States - Countervailing duties levied by the U.S government are imposed to offset ?
A. foreign dumping of goods in the U.S
B. subsidies granted to foreign firms that export to the U.S
C. buy national policies of foreign government
D. stringent environmental regulations of foreign government s - Suppose the government increases its purchases by Rs16 billion. If the multiplier effect exceeds the crowding out effect, then ?
A. The aggregate supply curve shifts to the right by more than Rs 16 billion
B. The aggregate demand curve shifts to the left by more than Rs 16 billion
C. The aggregate demand curve shifts to the right by more than Rs 16 billion
D. the aggregate supply curve shifts to the left by more than Rs 16 billion
