1which of the following situations will arise in the

Assignment Help International Economics

Reference no: EM13378132

1.Which of the following situations will arise in the domestic market following the removal of an import quota?
a. imports increase, domestic production increases, prices increase
b. imports increase, domestic production decreases, prices decrease
c. imports decrease, domestic production increases, prices decrease
d. imports decrease, domestic production decreases, prices increase

2.The WTO and GATT promote trade by
a. reducing tariffs.
b. eliminating quotas.
c. reducing agricultural subsidies.
d. All of these.

3.Which of the following statements is true?
a. Free trade will benefit all workers in a nation equally.
b. As a result of specialization some workers will be displaced and so harmed in the short run by free trade.
c. Free trade leads to lower wages for all workers in both nations.
d. Specialization will result in a decline in an industry and none of those workers will be able to find other jobs.

4.Today, the average U.S. tariff is 4.6 percent of the value of imported goods, which is very low by historical standards.
True
False

Reference no: EM13378132

Questions Cloud

Suppose the savings rates by income quartiles in indonesia : suppose the savings rates by income quartiles in indonesia are given by the following1st quartile - 5 savings rate2nd

Rcall partial equilibrium market model qda1b1p qs a2b2p : recall partial equilibrium market model qda1b1p qs a2b2p qd qs-qd quantity demanded-qs quantity supplied-p

Services at december 31 2011 are listed belowaccounts : services at december 31 2011 are listed belowaccounts payable12000j. trendsetter capital 111110000accounts

Say you are the manager of a perfectly competitive firm : say you are the manager of a perfectly competitive firm selling a product. your business is making a loss because total

1which of the following situations will arise in the : 1.which of the following situations will arise in the domestic market following the removal of an import quota? a.

1 occurs when a firm cuts prices below production costs in : 1. occurs when a firm cuts prices below production costs in a deliberate attempt to drive competitors out of business.

Mick and donald run a fast food outlet on queen street for : mick and donald run a fast food outlet on queen street. for most of the day mick and donald are able to keep up with

Countries x and y differ in population growth rates and : countries x and y differ in population growth rates and rates of investment.country x investment or savings is 20 of

A country is described by the solow model with a production : a country is described by the solow model with a production function y k12 where y is output per worker and k is

User Account

All Pages