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.Management Sciences
Category: Tariffs
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
Suppose that Pakistan imposes a tariff on ballpoint pens of 25 rupees per pen plus 12 percent of the pen’s value, this is an example of a (an) ?
A. specific tariff
B. ad valorem tariff
C. compound tariff
D. effective tariff
If a nation fitting the criteria for the small nation model imposes a 10 percent tariff on imports of autos ?
A. The price of autos within the nation will rise by 10 percent
B. The price of autos within the nation will rise by less than 10 percent
C. The price of autos within the nation will rise by more than 10 percent
D. The price of autos will not rise because of internal competition
_______ represents the difference between what consumer have to pay for a product and what they are willing and able to pay ?
A. producer surplus
B. deadweight surplus
C. government surplus
D. consumer surplus
A foreign-trade zone (FTZ) is ?
A. a regional area within which trade with foreign nations is allowed
B. a free trade agreement among several nations
C. designed to limit exports of manufactured goods by placing export taxes on goods made within the zone
D. designed to promote exports by deferring imports duties on intermediate inputs and waving such duties if the final product is re-exported rather than sold domestically
Suppose that the offshore assembly provisions (OAP) of the United States are granted to finished computers that are imported and produced domestically This policy will tend to ?
A. cause foreign assemblers of computers to use more computer components that are supplied by countries other than the United States
B. Increase the Price of computers to consumers in the United States
C. Increase the Production of computers in the United States
D. Increase the production of computer components in the United States
A tax of 20 rupees per unit of imported cheese would be an example of a (an) ?
A. Compound tariff
B. Effective tariff
C. Ad valorem tariff
D. Specific tariff
For advanced countries such as the United States, tariffs on imported raw materials tend to be ?
A. equals to tariffs on imported manufactured goods
B. lower than tariffs on imported manufactured goods
C. higher than tariffs on imported manufactured goods
D. The highest of all tariffs
Most tariffs have ?
A. only revenue effects
B. only protective effects
C. Both protective and revenue effects
D. neither protective or revenue effects
With free trade the total quantity of imports would equal ?
A. 10,000 units
B. 40,000 units
C. 42,000 units
D. 50,000 units
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