Economics - Trade Regulations And Industrial Policies
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This is The MCQs of Economics
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Question 1 of 28
1. Question
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:
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Question 2 of 28
2. Question
Referring to the above question, the embargo was mainly resisted by:
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Question 3 of 28
3. Question
Concerning economic sanctions, export embargo induce greater losses in consumer surplus for the target country the:
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Question 4 of 28
4. Question
During the post-world War II era:
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Question 5 of 28
5. Question
The strongest political pressure for a trade policy that results in higher protectionism comes from:
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Question 6 of 28
6. Question
The institutional framework developed in 1947 to promote trade liberalization is known sa:
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Question 7 of 28
7. Question
When one country provides most favored nation status (normal trade relations) for another, it agrees to
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Question 8 of 28
8. Question
Those who argue in favor of import protection generally give the impression that such restricted trade will:
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Question 9 of 28
9. Question
Countervailing duties levied by the U.S government are imposed to offset
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Question 10 of 28
10. Question
Under free trade suppose that Japan can supply radios t mexico at the price of $45 Therefore, Mexico’s imports equal
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Question 11 of 28
11. Question
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
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Question 12 of 28
12. Question
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
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Question 13 of 28
13. Question
All of the following are fundamental to the World Trade Organization except:
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Question 14 of 28
14. Question
The World Trade Organization is sometimes criticized for all of the following reasons except:
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Question 15 of 28
15. Question
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
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Question 16 of 28
16. Question
Antidumping duties applied to imported goods
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Question 17 of 28
17. Question
According to the United States ____ is the number one violator of intellectual property rights
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Question 18 of 28
18. Question
_____ protection such as the escape clause, provide temporary protection to domestic industries facing competition from fairly traded foreign goods
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Question 19 of 28
19. Question
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.
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Question 20 of 28
20. Question
Concerning dumping, which of the following is true?
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Question 21 of 28
21. Question
_____ are quotas that result in a total prohibition of trade
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Question 22 of 28
22. Question
The result of antidumping tariffs is to:
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Question 23 of 28
23. Question
Which round of international trade negotiations resulted in the creation of the World Trade Organization?
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Question 24 of 28
24. Question
The effect of the most favored nation (normal trade relations) clause is to:
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Question 25 of 28
25. Question
The organization that currently establishes rules of conduct for firms engaging in international trade is the:
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Question 26 of 28
26. Question
The theory of suggests that government can assist domestic companies in capturing economic profits from foreign competitors
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Question 27 of 28
27. Question
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:
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Question 28 of 28
28. Question
Economic sanctions:
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