When imports from a higher-cost supplier within a customs union replace imports from a lower-cost supplier outside the custom union, there exists ?

Related Mcqs:

Which factor of production in the United States is most likely to be made worse off (its factor payment will decrease) because of the North American Free Trade Agreement ?

A. Capital B. land C. skilled labor D. unskilled labor...

As of 2002, the ________ became the official currency union of the European Monetary System ?

A. dollar B. mark C. franc D. euro...

The implementation of a common market involves all of the following except ?

A. elimination of trade restrictions among member countries B. a common tax system and monetary union C. prohibition to restriction on factor movements D. a common tariff levied in imports from nonmembers...

Trade diversion takes place when ?

A. a country moves from autarky to free trade B. a movement to a customs union reduces the costs of trade through standardization economic integration results in a C. economic integration results in a movement in product origin to a lower cost member country D. economic integration results in a shift in product origin from … Trade diversion takes place when ?Read More...

If A imposes a per unit tariff of $10 on imports from both B and C A will import ?

A. 400 units from B B. 200 units from C C. 200 units from each D. 400 units from B and 200 units from C...