Suppose that tomatoes from Mexico face a 20 percent tariff in the United States and a 25 percent tariff in Canada. If the United States and Canada maintain free trade between each other, the these two countries belong to a ?

Related Mcqs:

Which country is not a member of the European Union ?

A. Spain B. Germany C. France D. Iceland...

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...

Trade creation takes place when ?

A. a country moves from autarky to free trade B. a movement to a customs union reduces the cost of trade through standardization 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 a lower cost nonmember country to … Trade creation takes place when ?Read More...

Under the EU’s Common Agricultural Policy, a variable import levy equals the ?

A. amount the which the EU’s support price exceeds the world price B. amount by which the world price exceeds the EU’s support price C. support price of the EU D. world price...

_________ is said to exist when the formation of a regional trading group leads to an expansion of trade above pregroup levels ?

A. trade creation B. trade diversion C. trade exclusion D. trade distortion...