Question 1

Although current U.S.tariffs are quite low on average,tariffs remain high for some products.

Accepted Answer

A) True 
 B)False

Question 2

If Brazil imposes a 50% tariff on automobiles and a 25% tariff on motors,the effective rate of protection on autos is

Accepted Answer

A) higher than the nominal rate of protection on autos. 
B) need more information to answer. 
C) lower than the nominal rate of protection on autos. 
D) equal to the nominal rate of protection on autos. 
A) higher than the nominal rate of protection on autos. 
B) need more information to answer. 
C) lower than the nominal rate of protection on autos. 
D) equal to the nominal rate of protection on autos.

Question 3

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

Accepted Answer

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

Question 4

If a tariff of $10 has no effect on the world price,the optimal tariff on that product

Accepted Answer

A) is $10. 
B) is zero. 
C) is higher than $10. 
D) depends upon the amount of government revenue collected. 
A) is $10. 
B) is zero. 
C) is higher than $10. 
D) depends upon the amount of government revenue collected.

Question 5

Answer the question(s)below based upon the following diagram.Note that Q is measured in 1,000s.
  
-Refer to the figure above.With the tariff,the quantity of imports falls to

Accepted Answer

A) 10,000 units. 
B) 12,000 units. 
C) 14,000 units. 
D) 22,000 units. 
A) 10,000 units. 
B) 12,000 units. 
C) 14,000 units. 
D) 22,000 units.

Question 6

In developed countries,tariffs on raw materials tend to be

Accepted Answer

A) highest of all. 
B) higher than on manufactured goods. 
C) equal to tariffs on manufactured goods. 
D) lower than on manufactured goods. 
A) highest of all. 
B) higher than on manufactured goods. 
C) equal to tariffs on manufactured goods. 
D) lower than on manufactured goods.

Although current U.S.tariffs are quite low on average,tariffs remain high for some products.

If Brazil imposes a 50% tariff on automobiles and a 25% tariff on motors,the effective rate of protection on autos is

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

If a tariff of $10 has no effect on the world price,the optimal tariff on that product

Answer the question(s)below based upon the following diagram.Note that Q is measured in 1,000s. -Refer to the figure above.With the tariff,the quantity of imports falls to

In developed countries,tariffs on raw materials tend to be

An Introduction to International Trade

Tools of Analysis for International Trade Models

The Classical Model of International Trade

The Heckscher-Ohlin Model

Tests of Trade Models: the Leontief Paradox and Its Aftermath

Nontariff Barriers and Arguments for Protection

Commercial Policy: History and Practice

Preferential Trade Agreements

International Trade and Economic Growth

The Balance of Payments

The Foreign Exchange Market

International Monetary Systems

Exchange Rates in the Short Run

Exchange Rates in the Long Run

Theories of the Current Account Balance

Open Economy Macroeconomics

International Banking, debt and Risk

Filters

Exam 6: Tariffs

Although current U.S.tariffs are quite low on average,tariffs remain high for some products.

If Brazil imposes a 50% tariff on automobiles and a 25% tariff on motors,the effective rate of protection on autos is

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

If a tariff of $10 has no effect on the world price,the optimal tariff on that product

Answer the question(s)below based upon the following diagram.Note that Q is measured in 1,000s. -Refer to the figure above.With the tariff,the quantity of imports falls to

In developed countries,tariffs on raw materials tend to be

An Introduction to International Trade

Tools of Analysis for International Trade Models

The Classical Model of International Trade

The Heckscher-Ohlin Model

Tests of Trade Models: the Leontief Paradox and Its Aftermath

Nontariff Barriers and Arguments for Protection

Commercial Policy: History and Practice

Preferential Trade Agreements

International Trade and Economic Growth

The Balance of Payments

The Foreign Exchange Market

International Monetary Systems

Exchange Rates in the Short Run

Exchange Rates in the Long Run

Theories of the Current Account Balance

Open Economy Macroeconomics

International Banking, debt and Risk

Filters