Search
.Management Sciences
Category: Trade Regulations And Industrial Policies
In 1980 the U.S imposed export quotas on grain sold to the Soviet Union in response to its armed invasion of Afghanistan if other nations do not increase grain exports to the soviets all the following would likely occur except?
A. Grain prices would rise in the Soviet union
B. Consumer surplus would decrease for the soviets
C. Grains prices would rise in the united States
D. Export revenues would decrease for U.S producers
The effect of the most favored nation (normal trade relations) clause is to ?
A. eliminate all tariffs between countries
B. increase all tariffs between countries
C. maintain a nondiscriminatory structure of tariffs
D. maintain a discriminatory structure of tariffs
________ are quotas that result in a total prohibition of trade?
A. embargoes
B. tariff-rate quotas
C. voluntary export restraints
D. nontariff barriers
Antidumping duties applied to imported goods ?
A. are abolished by the World Trade Organization
B. result in decreases in consumer surplus for domestic households
C. are imposed by industrial countries but not developing countries
D. result in lower-priced goods for domestic consumers
All of the following are fundamental to the World Trade Organization except ?
A. bilateral tariff reductions to promote trade liberalization
B. the use of the most-favored nation clause (normal trade relations)
C. nondiscrimination in trading relationships
D. the prohibition of import quotas and export quotas
When one country provides most favored nation status (normal trade relations) for another, it agrees to ?
A. charge the nation’s products a lower tariff than any other nation’s
B. charge that nation’s products a tariff rate no higher than that on any other nation
C. charge that nation’s products a higher tariff than any other nation’s
D. exports to that nation any products that it wants to purchase
Following World War II the United States and other countries sought to liberalize trade among each other the first major postwar step toward trade liberalization was the ?
A. General Agreement on Tariffs and Trade
B. World Trade Organization
C. Smoot Hawley Organization
D. McKinley Agreement on Trade policy
The U.S has granted China permanent most favored nation treatment (normal trade relations) This means that the tariff schedules which apply to U.S imports from china ?
A. have tariff rates equal to zero suggesting a free trade policy for the United States
B. have lower tariff rates than the rates that apply to any other country sending goods to the United States
C. have tariff rates that are identical to the rates that apply to other countries to which the U.S grants most-favored nation treatment
D. have lower tariff rates than the rates that apply to other countries to which the U.S grants most favored nation treatment
Recent Comments