MCQs of Economics – Trade Regulations And Industrial Policies

In 1980 the U.S imposed export quotas on grain sold to the Soviet Union in response to its armed invasion of Afghanistan if other nations do not increase grain exports to the soviets all the following would likely occur except:

Referring to the above question, the embargo was mainly resisted by:

Concerning economic sanctions, export embargo induce greater losses in consumer surplus for the target country the:

During the post-world War II era:

The strongest political pressure for a trade policy that results in higher protectionism comes from:

The institutional framework developed in 1947 to promote trade liberalization is known sa:

When one country provides most favored nation status (normal trade relations) for another, it agrees to

Those who argue in favor of import protection generally give the impression that such restricted trade will:

Countervailing duties levied by the U.S government are imposed to offset

Under free trade suppose that Japan can supply radios t mexico at the price of $45 Therefore, Mexico’s imports equal

To help its firms penetrate Mexico’s radio market suppose the Japanese government provides them a subsidy of $15 for each radio shipped to Mexico As a result of this trade policy

Compared to what occurred under free trade, Mexico’s producer surplus ____ and consumer surplus ____ as a result of the subsidy Use the figure that you have plotted to calculate the amounts

All of the following are fundamental to the World Trade Organization except:

The World Trade Organization is sometimes criticized for all of the following reasons except:

Following World War II the United States and other countries sought to liberalize trade among each other the first major postwar step toward trade liberalization was the

Antidumping duties applied to imported goods

According to the United States ____ is the number one violator of intellectual property rights

_____ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods

Suppose that Russia steel firms engage in dumping in the German market in terms of overall economic welfare, German welfare would _____ as the result of the dumping.

Concerning dumping, which of the following is true?

_____ are quotas that result in a total prohibition of trade

The result of antidumping tariffs is to:

Which round of international trade negotiations resulted in the creation of the World Trade Organization?

The effect of the most favored nation (normal trade relations) clause is to:

The organization that currently establishes rules of conduct for firms engaging in international trade is the:

The theory of suggests that government can assist domestic companies in capturing economic profits from foreign competitors

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:

Economic sanctions: