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15 Cards in this Set
- Front
- Back
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Ad valorem tariffs are collected as……………?
A) fixed amounts of money per unit traded B) a percentage of the price of the product C) a percentage of the quantity of imports D) All of the above |
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Specific tariffs are collected as……………?
A) fixed amounts of money per unit traded B) a percentage of the price of the product C) a percentage of the quantity of imports D) All of the above |
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In today’s world, many countries impose tariffs……………?
A) only on imports B) only on exports C) on both imports and exports D) on imports, exports and non-traded goods |
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Tariff levels in developing countries tend to be …………… tariff levels in developed countries?
A) lower than B) about equal to C) higher than D) there is no general pattern |
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The US charges……………?
A) the same tariff rates on goods from all countries B) lower tariff rates on goods from countries with most favoured nation status C) low or zero tariffs on goods from certain developing countries D) Both B and C |
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…………… are profits that accrue to whoever has the right to import the quota restricted goods?
A) Quota licences B) Quota prices C) Quota rents D) None of the above |
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Like tariffs, quotas tend to lead to ……………?
A) higher prices and reduces imports B) increased government revenue C) increased consumer surplus D) all of the above |
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…………… are quotas which lead to a complete elimination of trade?
A) Embargoes B) Voluntary export restraints C) Non-tariff barriers D) Orderly marketing agreements |
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Developing countries that concentrate production in agricultural products or raw materials may face a secular decline in their international terms of trade due to……………?
A) sluggish demand for these products in developed countries B) large increases in the supplies of these products on world markets due to export expansion policies C) inelastic demand for these products in developed countries D) all of the above |
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Which of these is an advantage of outward-looking development strategy?
A) Economies of scale B) Increased competition C) Increased foreign investment D) Industrialised countries raising trade barriers E) A, B and C |
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Which of these is a disadvantage of import substitution strategy?
A) Barriers rarely come down B) Corruption C) Encourages monopolies and inefficiencies D) Limits development of industries that supply inputs E) all of the above |
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If the expansion of an export industry leads to the provision of infrastructure such as roads or airports, this is called a ……………?
A) Secondary effect B) Linkage effect C) Elementary effect D) Side effect |
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QUESTION 13: SEE WORKSHEET
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QUESTION 14: SEE WORKSHEET
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QUESTION 15: SEE WORKSHEET
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