The gains from trade:
accrue primarily to traders when there are no barriers to entry.
tend to go to countries producing goods with diseconomies of scale rather than to countries producing goods with economies of scale.
tend to go to small countries rather than large countries.
accrue primarily to countries, not traders.
The text mentions ten sources of U.S. comparative advantage. Which of the following is NOT one of them?
A large military
Skills of the labor force
A stable government
An extensive physical and technological infrastructure
The text calls the type of comparative advantage that is not easily changed, such as climate,
stable comparative advantage.
inherent comparative advantage.
equilibrium comparative advantage.
permanent comparative advantage.
The WTO authorized several countries to impose about $150 million in trade sanctions against the United States in retaliation for a U.S. import law that the WTO ruled to be illegal. The WTO that issued this ruling against the United States is known as
Wage Tariff Objective
World Trade Organization
Wealth Technology Order
Welfare Tax Order
Analysts have suggested that the cost of bras is related to trade restrictions on textile imports. What does the price of bras have to do with tariffs and quotas?
Trade restrictions protect consumers by keeping the price of bras low.
Trade restrictions in the form of tariffs keep prices of bras high, but replacing them with quotas will result in lower prices.
Trade restrictions keep the prices of bras high, and ending them will result in lower prices.
Trade restrictions do not influence the price of bras; the price is determined by domestic technology and the overall inflation rate.
Duties imposed by the U.S. government on imported Chinese frozen and canned shrimp are an example of:
tariffs.
quotas.
voluntary restrictions.
regulatory trade restrictions.
An import quota:
increases both domestic production and domestic prices.
increases domestic production and reduces domestic prices.
reduces domestic production and increases domestic prices.
reduces both domestic production and domestic prices.
Which of the following is not a regulatory trade restriction?
Vegetables prohibited because of excess pesticide usage.
Inspections designed to impede trade processes.
A limit on the number of imported cars.
Leather products banned because of tanning by urine.
Infant industry protection can be justified in theory by:
both the "learning by doing" argument and the existence of economies of scale.
the "learning by doing" argument but not by the existence of economies of scale.
the existence of economies of scale but not by the "learning by doing" argument.
neither the "learning by doing" argument nor the existence of economies of scale.
any help is appreciated!!!
accrue primarily to traders when there are no barriers to entry.
tend to go to countries producing goods with diseconomies of scale rather than to countries producing goods with economies of scale.
tend to go to small countries rather than large countries.
accrue primarily to countries, not traders.
The text mentions ten sources of U.S. comparative advantage. Which of the following is NOT one of them?
A large military
Skills of the labor force
A stable government
An extensive physical and technological infrastructure
The text calls the type of comparative advantage that is not easily changed, such as climate,
stable comparative advantage.
inherent comparative advantage.
equilibrium comparative advantage.
permanent comparative advantage.
The WTO authorized several countries to impose about $150 million in trade sanctions against the United States in retaliation for a U.S. import law that the WTO ruled to be illegal. The WTO that issued this ruling against the United States is known as
Wage Tariff Objective
World Trade Organization
Wealth Technology Order
Welfare Tax Order
Analysts have suggested that the cost of bras is related to trade restrictions on textile imports. What does the price of bras have to do with tariffs and quotas?
Trade restrictions protect consumers by keeping the price of bras low.
Trade restrictions in the form of tariffs keep prices of bras high, but replacing them with quotas will result in lower prices.
Trade restrictions keep the prices of bras high, and ending them will result in lower prices.
Trade restrictions do not influence the price of bras; the price is determined by domestic technology and the overall inflation rate.
Duties imposed by the U.S. government on imported Chinese frozen and canned shrimp are an example of:
tariffs.
quotas.
voluntary restrictions.
regulatory trade restrictions.
An import quota:
increases both domestic production and domestic prices.
increases domestic production and reduces domestic prices.
reduces domestic production and increases domestic prices.
reduces both domestic production and domestic prices.
Which of the following is not a regulatory trade restriction?
Vegetables prohibited because of excess pesticide usage.
Inspections designed to impede trade processes.
A limit on the number of imported cars.
Leather products banned because of tanning by urine.
Infant industry protection can be justified in theory by:
both the "learning by doing" argument and the existence of economies of scale.
the "learning by doing" argument but not by the existence of economies of scale.
the existence of economies of scale but not by the "learning by doing" argument.
neither the "learning by doing" argument nor the existence of economies of scale.
any help is appreciated!!!