Question 1

Figure: Home's Import­Competing Industry   (Figure: Home's Import­Competing Industry) What is this nation's
"welfare" before trade?

Accepted Answer

A) triangle AFB 
B) triangle AEC 
C) quadrangle DEBC 
D) triangle EFC 
A) triangle AFB 
B) triangle AEC 
C) quadrangle DEBC 
D) triangle EFC

Question 2

Why is it politically difficult for the United States to eliminate or reduce its
quotas on imported sugar?

Accepted Answer

The U.S.sugar industry is a potent polit

Question 3

What GATT provision did the United States use to justify levying tariffs on
Tire imports in fall 2009?

Accepted Answer

A) antidumping duties 
B) export subsidization 
C) safeguard clause 
D) national security 
A) antidumping duties 
B) export subsidization 
C) safeguard clause 
D) national security

Question 4

Several instances of U.S.agreements with its trading partners to limit
their exports to the United States have come under the category of
"voluntary export restraint agreements." What are these and why do
nations engage in them? Give at least one example.

Accepted Answer

On December 31, 2004, the United States

Question 5

Which of the following is NOT an effect of an import tariff?

Accepted Answer

A) It increases producer surplus by raising the market price and allowing more production. 
B) It raises government revenue. 
C) It reduces consumer surplus by raising the market price. 
D) It improves efficiency in the economy overall because it saves high­ paying jobs. 
A) It increases producer surplus by raising the market price and allowing more production. 
B) It raises government revenue. 
C) It reduces consumer surplus by raising the market price. 
D) It improves efficiency in the economy overall because it saves high­ paying jobs.

Figure: Home's ImportCompeting Industry (Figure: Home's ImportCompeting Industry) What is this nation's "welfare" before trade?

Why is it politically difficult for the United States to eliminate or reduce its quotas on imported sugar?

What GATT provision did the United States use to justify levying tariffs on Tire imports in fall 2009?

Several instances of U.S.agreements with its trading partners to limit their exports to the United States have come under the category of "voluntary export restraint agreements." What are these and why do nations engage in them? Give at least one example.

Which of the following is NOT an effect of an import tariff?

The Global Economy

Trade and Technology: the Ricardian Model

Gains and Losses From Trade in the Specific-Factors Model

Trade and Resources: the Heckscher-Ohlin Model

Movement of Labor and Capital Between Countries

Increasing Returns to Scale and Monopolistic Competition

Import Tariffs and Quotas Under Perfect Competition

International Agreements: Trade, Labor, and the Environment

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Filters

Exam 8: Import Tariffs and Quotas Under Imperfect Competition

Figure: Home's Import­Competing Industry (Figure: Home's Import­Competing Industry) What is this nation's "welfare" before trade?

Why is it politically difficult for the United States to eliminate or reduce its quotas on imported sugar?

What GATT provision did the United States use to justify levying tariffs on Tire imports in fall 2009?

Several instances of U.S.agreements with its trading partners to limit their exports to the United States have come under the category of "voluntary export restraint agreements." What are these and why do nations engage in them? Give at least one example.

Which of the following is NOT an effect of an import tariff?

The Global Economy

Trade and Technology: the Ricardian Model

Gains and Losses From Trade in the Specific-Factors Model

Trade and Resources: the Heckscher-Ohlin Model

Movement of Labor and Capital Between Countries

Increasing Returns to Scale and Monopolistic Competition

Import Tariffs and Quotas Under Perfect Competition

International Agreements: Trade, Labor, and the Environment

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Filters

Figure: Home's ImportCompeting Industry (Figure: Home's ImportCompeting Industry) What is this nation's "welfare" before trade?