A tariff causes domestic firms to ________ and consumers to?

Related Mcqs:

Major trading partners of the United States including all of the following countries except ?

A. Canada B. Mexico C. China D. North Korea...

If a group of countries abolish trade barriers between them and set same tariffs on goods coming in from other countries they are a ?

A. common market B. free trade area C. customs union D. federation...

Economic transition involves high inflation because _____ and ______?

A. high monetary growth high wages B. high budget deficits devaluation C. high monetary growth devaluation D. Prices surge from an artificially low level to their equilibrium level the inflation tax is required a source of government revenue...

Free traders maintain that an open economy is advantageous is that it provides all of the following except ?

A. Increased competition for world producers B. A wider selection of products for consumers C. The utilization of the most efficient production methods D. Relatively high wages levels for all domestic workers...

Economic integration ?

A. occurs when countries are granted most favored nation status B. occurs when one country voluntarily agrees to reduce its exports to another country C. occurs when two or more nations join to form a free-trade zone D. Occurs when countries develop an acquired comparative advantage that makes their industries more competitive in international markets...