To help developing nations strengthen their international competitiveness many industrial nations have granted non-reciprocal tariff reductions to developing nations under the ?

Related Mcqs:

1. 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

2. 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

3. If the world price of steel is $500 a ton a specific tariff $50 is equivalent to an ad valorem tariff of______________?

   A. 5 percent
   B. 10 percent
   C. 15 percent
   D. 20 percent

4. Suppose that the nominal tariff rate on finished computers is 12 percent and that the weighted average of the nominal tariff rates on the inputs used in producing computers is 18 percent. Thus, the effective rate of protection for the computer industry must ?

   A. be less than 12 percent and can be negative
   B. be less than 12 percent but must be greater than zero
   C. equal 6 percent
   D. exceed 30 percent

5. Suppose that tomatoes from Mexico face a 20 percent tariff in the United States and a 25 percent tariff in Canada. If the United States and Canada maintain free trade between each other, the these two countries belong to a ?

   A. free-trade area
   B. customs union
   C. common market
   D. monetary union

6. The U.S has granted China permanent most favored nation treatment (normal trade relations) This means that the tariff schedules which apply to U.S imports from china ?

   A. have tariff rates equal to zero suggesting a free trade policy for the United States
   B. have lower tariff rates than the rates that apply to any other country sending goods to the United States
   C. have tariff rates that are identical to the rates that apply to other countries to which the U.S grants most-favored nation treatment
   D. have lower tariff rates than the rates that apply to other countries to which the U.S grants most favored nation treatment

7. The market power effect of an international joint venture can lead to welfare losses for the domestic economy unless offset by cost reductions. Which type of cost reduction would not lead to offsetting welfare gains for the overall economy ?

   A. R&D generating welfare improved technology
   B. development of more productive machinery
   C. new work rules promoting workers efficiency
   D. lower wages extracted from workers

8. The arrangement where goods imported from trading partners in the developing world are subject to lower tariff rates than goods from other countries is referred to as ?

   A. normal trade relation status
   B. most favored nation status
   C. offshore assembly provisions
   D. Generalized System of Preferences

9. Policies to reduce unemployment by reducing union power, tax cuts, reductions in unemployment benefit and investment subsidies are examples of ?

   A. Keynesian policies
   B. Supply-side policies
   C. Monetarist Policies
   D. Classical policies

10. The term tariff, as used in international trade refers to ?

    A. The price of goods when they leave the producing country
    B. a limit on the quantity of a good that can be imported into a country
    C. a tax on imports
    D. a government payment to encourage exports