Question 1

The General Agreement on Tariffs and Trade focused on:

Accepted Answer

A)  raising tariffs on agricultural products. 
B)  lowering trade restrictions between countries. 
C)  promoting full employment worldwide. 
D)  increasing trade restrictions between countries. 
A)  raising tariffs on agricultural products. 
B)  lowering trade restrictions between countries. 
C)  promoting full employment worldwide. 
D)  increasing trade restrictions between countries.

Question 2

We can measure producer and consumer gains by looking at a graph of supply and demand. Total welfare in the economy would be:

Accepted Answer

A)  the area above the supply curve but below the equilibrium price. 
B)  the area below the demand curve but greater than the equilibrium price. 
C)  the area below the demand curve all the way down to the quantity axis. 
D)  the combined triangular area below the demand curve and above the supply curve. 
A)  the area above the supply curve but below the equilibrium price. 
B)  the area below the demand curve but greater than the equilibrium price. 
C)  the area below the demand curve all the way down to the quantity axis. 
D)  the combined triangular area below the demand curve and above the supply curve.

Question 3

Most favored nation status requires that a WTO member:

Accepted Answer

A)  reduces a tariff on imports from one WTO trading partner and applies the lower tariff to imports from all other WTO members. 
B)  reduces a tariff on imports from one WTO trading partner and applies the lower tariff to imports from all other countries. 
C)  increases a tariff on imports from one WTO trading partner and raises the tariff on imports from all other WTO members. 
D)  increases a tariff on imports from one WTO trading partner and raises the tariff on imports from all other countries. 
A)  reduces a tariff on imports from one WTO trading partner and applies the lower tariff to imports from all other WTO members. 
B)  reduces a tariff on imports from one WTO trading partner and applies the lower tariff to imports from all other countries. 
C)  increases a tariff on imports from one WTO trading partner and raises the tariff on imports from all other WTO members. 
D)  increases a tariff on imports from one WTO trading partner and raises the tariff on imports from all other countries.

The General Agreement on Tariffs and Trade focused on:

We can measure producer and consumer gains by looking at a graph of supply and demand. Total welfare in the economy would be:

Most favored nation status requires that a WTO member:

Trade in 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

Offshoring of Goods and Services

Import Tariffs and Quotas Under Imperfect Competition

Export Subsidies in Agriculture and High-Technology Industries

International Agreements: Trade, Labor, and the Environment

The Global Macroeconomy

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Exchange Rates II: the Asset Approach in the Short Run

National and International Accounts: Income, Wealth, and the Balance of Payments

Balance of Payments I: the Gains From Financial Globalization

Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run

Fixed Versus Floating: International Monetary Experience

Exchange Rate Crises: How Pegs Work and How They Break

The Euro

Topics in International Macroeconomics

Filters

Exam 8: Import Tariffs and Quotas Under Perfect Competition

The General Agreement on Tariffs and Trade focused on:

We can measure producer and consumer gains by looking at a graph of supply and demand. Total welfare in the economy would be:

Most favored nation status requires that a WTO member:

Trade in 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

Offshoring of Goods and Services

Import Tariffs and Quotas Under Imperfect Competition

Export Subsidies in Agriculture and High-Technology Industries

International Agreements: Trade, Labor, and the Environment

The Global Macroeconomy

Introduction to Exchange Rates and the Foreign Exchange Market

Exchange Rates I: the Monetary Approach in the Long Run

Exchange Rates II: the Asset Approach in the Short Run

National and International Accounts: Income, Wealth, and the Balance of Payments

Balance of Payments I: the Gains From Financial Globalization

Balance of Payments II: Output, Exchange Rates, and Macroeconomic Policies in the Short Run

Fixed Versus Floating: International Monetary Experience

Exchange Rate Crises: How Pegs Work and How They Break

The Euro

Topics in International Macroeconomics

Filters