A. Decrease the domestic price of a product
B. Increase government earnings from tax
C. Increase the quantity of imports
D. Decrease domestic production
Related Mcqs:
- 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 - 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 - Tariffs are used to protect infant industries these industries are those which ?
A. employ many young or untrained workers
B. are competing with well-established overseas firms
C. are not yet large enough to achieve economies of scale
D. use a new technology - What is called the trade without restriction of tariffs, quotas, or foreign exchange controls ?
A. Open trade
B. Free trade
C. Open sky trade
D. Easy trade - Ad valorem tariffs are collected as ?
A. fixed amounts of money per unit traded
B. a percentage of the price of the product
C. a percentage of the quantity of imports
D. All of the above - 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 - Specific tariffs are collected as ?
A. fixed amount of money per unit traded
B. a percentage of money per unit traded
C. a percentage of the quantity of imports
D. All of the above - When did World Trade Organization replace General Agreement on Tariffs and Trade (GATT)?
A. 1st January 1995
B. 1st January 1998
C. 1st December 1999
D. 1st June 2000Submitted by: Syed Nizakat Ali Shah
