Practice mode / Non-Tariff Trade Barriers Similar to import tariffs import quotas tend to result in? A Option A: higher prices and reduced imports B Option B: increased government revenue C Option C: increased consumer surplus D Option D: decrease producer surplus Correct answer A. higher prices and reduced imports Show answer
Question 01 / Non-Tariff Trade Barriers ____ are profits that accrue to whomever has the right to import the good that is restricted by the quota? A Option A: quota license B Option B: quota rents C Option C: quota prices D Option D: None of the above Correct answer B. quota rents Show answer Open question
Question 02 / Non-Tariff Trade Barriers Governments around the world tend to auction quota licenses? A Option A: never B Option B: seldom C Option C: often D Option D: always Correct answer B. seldom Show answer Open question
Question 03 / Non-Tariff Trade Barriers international dumping may involve? A Option A: selling goods to foreigners at a price below that charged domestic consumers B Option B: selling goods to foreigners at a price below the cost of production C Option C: antidumping duties being levied on the imported, dumped goods D Option D: All of the above Correct answer D. All of the above Show answer Open question
Question 04 / Non-Tariff Trade Barriers A production subsidy that is granted to a producer of an import-competing good? A Option A: does not require government taxes to finance it B Option B: yields the same deadweight welfare loss as an import tariff or import quota C Option C: has only a consumption effect deadweight loss D Option D: has only a protective effect deadweight loss Correct answer D. has only a protective effect deadweight loss Show answer Open question
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