In today’s world, most countries impose tariffs ?

Related Mcqs:

The difference between what consumers have to pay for a particular and what they are willing to pay is known as ?

A. consumer surplus B. producer surplus C. deadweight costs D. deadweight surplus...

If no imported inputs (hard-disk drive) go into the domestic production of a final product (desktop computer) then the ?

A. nominal tariff rate on the final product equals the effective tariff rate on the product B. nominal tariff rate on the final product is greater than the effective rate on the product C. nominal tariff rate on the final product is less than the effective tariff rate on the final product D. None of … If no imported inputs (hard-disk drive) go into the domestic production of a final product (desktop computer) then the ?Read More...

The national security argument for protection is more likely to be valid when ?

A. The purpose is to maintain protection for an indefinite time period B. The industry is characterized by increasing returns to scale C. The economy operates during a recession D. The protected industry provides invaluable goods during periods of war...

Suppose there is no tariff on imported inputs and the ratio of the value of imported inputs the value of the final product is 0.5 If the nominal tariff rate on the final product is 10 percent, the effective tariff rate equals ?

A. 5 percent B. 10 percent C. 15 percent D. 20 percent...

With free trade the total value of imports would equal ?

A. $100,000 units B. $400,000 units C. $600,000 units D. $800,000 units...