Category: Tariffs

A. a revenue effect and redistribution effect
B. revenue effect and protection effect
C. consumption effect and protection effect
D. redistribution effect and consumption effect

A. be less than 12 percent and can be negative
B. be less than 12 percent but must be greater than zero
C. equal 6 percent
D. exceed 30 percent

A. valid for stereos, but nor for most products imported by Pakistan
B. valid for most products imported by Pakistan but not for stereos
C. deceiving since Koreans eventually spend the dollars on Pakistani goods
D. deceiving since the dollars spent on a stereo built in the Pakistan eventually wind up overseas

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 the above

A. economic downturn and recession generally result in greater protectionism
B. because domestic consumers outnumber domestic producer’s policy markers usually enact Free-trade policies to satisfy the consumer majority:
C. When domestic exporting companies are organized, policy tends to favor freer trade
D. Policy tends to favor freer trade in countries whose imports are inputs into critical industries

A. will always
B. will never
C. can sometimes
D. None of the above

A. In the interest of the U.S as a whole but not in the interest of the state of Pennsylvania where steel mills are located
B. In the interest of the U.S as a whole and in the interest of the state of Pennsylvania
C. Not in the interest of the U.S as a whole, but it might be in the interest of the state of Pennsylvania
D. Not in the interest of the U.S as a whole, nor in the interest of the state of Pennsylvania

A. fixed amounts of money per unit traded
B. a percentage of the price of the product
C. a percentage of the quantity of imports
D. All of the above