A. highest of all
B. higher than on manufactured goods
C. equal to tariffs on manufactured goods
D. lower than on manufactured goods
Related Mcqs:
- 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 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 - 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 - If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?
A. common market
B. free trade area
C. customs union
D. federation - 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 - Developing countries that emphasize the production of raw materials or agricultural goods may realize a long-run deterioration in the international terms of trade because of ?
A. relatively low import tariffs maintained by advanced countries
B. highly elastic demand for these products in advanced countries
C. declines in the supplies of these products on world markets
D. sluggish demand for these products in advanced countries - Developing countries that concentrate production in agricultural products or raw materials may face a long-run decline in their international terms of trade because of ?
A. inelastic demand for these products in advanced countries
B. large increases in the supplies of these products on world markets because of export expansion policies
C. sluggish demand for these products in advanced countries
D. All of the above - In today’s world, most countries impose tariffs ?
A. only on imports
B. only on exports
C. on both imports and exports
D. on imports exports and nontraded goods - Tariff levels in advanced countries tend to be __________ tariff levels in developing countries?
A. higher than
B. equal to
C. lower than
D. there is no general pattern - Trade creation will more likely outweigh trade diversion for Country X that forms a customs union if the level of tariffs in Country X prior to the customs union is ________ and the total number of countries forming the customs union is _________?
A. relatively high; relatively large
B. relatively high; relatively small
C. relatively low ; relatively large
D. relatively low ; relatively small
