e333_ex1_fl08_A_angel_key - Fall 2008 Version A (YELLOW...

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Fall 2008 Version A (YELLOW exam) Key :  The correct answers are highlighted Comments: Numbers 2, 3 and 4 were omitted due to an error in the associated graph.  Everyone will receive  full credit for those questions. Exam Name___________________________________   MULTIPLE CHOICE.  Choose the one alternative that best completes the statement or answers the question.  50 questions at  2 points each. Answer the question(s) below based upon the following diagram. 1) 
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Refer to  the figure  above. A  tariff of  ________  would be  prohibitiv e.  
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1) 
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_______  A) 
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$10 
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B) 
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$15 
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C) 
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$0  
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D)  $ 8     OM    
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If Brazil  imposes a  50% tariff  on  automobil es and a  25% tariff  on  motors,  the  effective  rate of  protection  on autos  is  
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5)  ____ ___  h i g h e r   t h a n   t h e   no mi na rat of  pr ot ec tio on  au to s.  lo we r than the nominal rate  of protection on autos. 
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need more  information to answer.   D) 
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equal to the  nominal rate of protection on autos.     6) 
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If a tariff  on bikes  causes  domestic  bike  prices to  rise by  20% and  domestic  value  added in  the  domestic  bike  industry  to rise by  30%, then 
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6)  ____ ___  t h e   e f f e c t i v e   r at of  pr ot ec tio of  bi ke is  30 %.  th eff ective rate of  protection is higher  than the nominal rate.  
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the nominal rate of protection of bikes is 20%.   D) 
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All of the  above.     7) 
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Most  tariffs  have  
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7)  ____ ___  o n l y   p r o te cti ve  ef fe ct s.  on ly revenue effects.  
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both protective  and revenue effects.   D) 
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neither  protective nor revenue effects.     Answer the question(s) below based on the following diagram of a country that is in international trade equilibrium. 8) 
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Refer to  the figure  above. If  this  country is  labor  abundant,  then  according  to the HO  theory  good X  should be  ________  intensive. 
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8)  ____ ___  l a bo r   ca pital  
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both capital and  labor   D) 
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Can't tell  without more information     9) 
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Refer to  the figure  above.  This  country's  exports  equal  
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9)  ____ ___ 
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CE units of X.  
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B)  DE  unit
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This note was uploaded on 08/25/2009 for the course ECON 333 taught by Professor Yavas,cemilepan,lu during the Fall '06 term at Pennsylvania State University, University Park.

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e333_ex1_fl08_A_angel_key - Fall 2008 Version A (YELLOW...

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