Import quotas tend to result in all of the following except ?

Related Mcqs:

1. 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

2. 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

3. 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

4. In 1980 the U.S imposed export quotas on grain sold to the Soviet Union in response to its armed invasion of Afghanistan if other nations do not increase grain exports to the soviets all the following would likely occur except?

   A. Grain prices would rise in the Soviet union
   B. Consumer surplus would decrease for the soviets
   C. Grains prices would rise in the united States
   D. Export revenues would decrease for U.S producers

5. ________ are quotas that result in a total prohibition of trade?

   A. embargoes
   B. tariff-rate quotas
   C. voluntary export restraints
   D. nontariff barriers

6. 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

7. If a large car importer in the Pakistan wants to import many cars, then the exchange value of the Pak rupees will tend to ?

   A. fluctuate more than it would do otherwise
   B. appreciate
   C. depreciate
   D. not be affected

8. ___________ are quotas that lead to a complete abolishment of trade?

   A. embargoes
   B. voluntary export restraints
   C. nontariff barriers
   D. orderly marketing agreements

9. Quotas are government-imposed limits on the _________ of goods trade between countries?

   A. prices
   B. quantity
   C. revenue
   D. costs

10. All of the following would tend to increase a worker’s wage except ?

    A. Working the night shift
    B. working harder
    C. more education
    D. having a greater amount of natural ability
    E. doing a job that is fun