Chapter 19

Card Set Information

Author:
Anonymous
ID:
182014
Filename:
Chapter 19
Updated:
2012-11-06 07:00:07
Tags:
tariffs
Folders:

Description:
tariffs
Show Answers:

Home > Flashcards > Print Preview

The flashcards below were created by user Anonymous on FreezingBlue Flashcards. What would you like to do?


  1. The 'gain' from international trade is:
    A. Increased employment in the domestic export sector.
    B. Tariff revenue.
    C. Increased employment in the domestic import sector.
    D. More goods than would be attainable through domestic production alone.
    D. More goods than would be attainable through domestic production alone.
    (this multiple choice question has been scrambled)
  2. A tariff can best be described as:
    A. An excise tax on an imported good.
    B. A government payment to domestic producers, to enable them to sell competitively in world markets.
    C. An excise tax on an exported good.
    D. A law that sets a limited upon the amount of a good that can be imported.
    A. An excise tax on an imported good.
    (this multiple choice question has been scrambled)
  3. In comparing a tariff and an import quota, we find that:
    A. Neither the tariff nor the quota generates revenue for the Australian government.
    B. The quota generates revenue for the Australian government, but the tariff does not.
    C. The tariff and quota always generate the same amount of revenue for the Australian government.
    D. The tariff generates revenue for the Australian governement, but quota may not.
    D. The tariff generates revenue for the Australian government, but quota may not.
    (this multiple choice question has been scrambled)
  4. Which of the following is the best description of a quota?
    A. An excise tax that is designed to place foreign producers at a competitive disadvantage when selling in domestic markets.
    B. A specification of the maximum amount of a product that may be imported during any period of time.
    C. Regulations and licensing relating to the quality or safety of imported products.
    D. Agreements adopted by exporting nations, to limit exports to another country.
    B. A specification of the maximum amount of a product that may be imported during any period of time.
    (this multiple choice question has been scrambled)
  5. For a product that is imported into a country, a licensing requirement, or unreasonably high standards pertaining to its quality and safety, are examples of:
    A. Voluntary export restrictions.
    B. Protective tariffs.
    C. Non-tariff barriers.
    D. Quotas on imported products.
    C. Non-tariff barriers.
    (this multiple choice question has been scrambled)
  6. In the long run, tariffs:
    A. Discourage imports and exports.
    B. Discourage imports but encourage exports.
    C. Encourage imports and exports.
    D. Encourage imports but discourage exports.
    A. Discourage imports and exports.
    (this multiple choice question has been scrambled)
  7. The basic difference in the economic effects of a tariff, compared with a quota, is that a:
    A. Tariff raises product prices, but a quota does not raise product prices.
    B. Quota is more likely to generate revenue for the government.
    C. Tariff is more likely to generate revenue for the government.
    D. Quota raises product product prices, but a tariff does not raise product prices.
    C. Tariff is more likely to generate revenue for the government.
    (this multiple choice question has been scrambled)

What would you like to do?

Home > Flashcards > Print Preview