S-8 Tariffs w.Quiz - Chapter 8 Analysis of a Tariff W. J....

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W. J. Streeter MEC 292 – FALL 2008 Analysis of a Tariff Chapter 8
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W. J. Streeter mec 292 – Fall 2008 From today’s Leaders Seek Global Response to Financial Crisis At U.N. Gathering, France, Brazil Call for More Oversight French President Nicolas Sarkozy emerged as among the most aggressive of the world leaders at the U.N. calling for greater oversight of the world's financial markets. At the U.N., Brazilian President Luiz Inácio Lula da Silva said the current global financial crisis was fueled by the "boundless greed" of speculators and bankers whose mistakes were being "borne by the masses." In response, he said the global community must create a "new foundation" for the world economic system to prevent future abuses and to ensure greater equality between rich and poor. While few of the U.N. leaders offered specific remedies for the financial crisis, they said it signaled a geopolitical power shift away from the U.S. and other Western powers in favor of developing nations. As a result, they said, the U.N. Security Council should be expanded to include countries like India and Brazil, while the G-8 forum for leading nations should grow to be the G-14.
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W. J. Streeter mec 292 – Fall 2008
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W. J. Streeter mec 292 – Fall 2008
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W. J. Streeter mec 292 – Fall 2008 Chapter 8 1. If a very small country imposes a tariff on imported motorcycles, the world price of motorcycles will ____ and the domestic price will ____. A. rise; rise B. fall; rise A. stay constant; rise A. stay constant; fall
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W. J. Streeter mec 292 – Fall 2008 2. A tariff usually lowers the well-being of each nation, including the nation imposing the tariff. A. TRUE A. FALSE
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W. J. Streeter mec 292 – Fall 2008 3) Which of the following refers to the loss consumers in the importing country suffer based on their reduction in the consumption of a good after a tariff is imposed on that good? A. Production effect B. Consumption effect C. Producer surplus D. Domestic consumer surplus
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W. J. Streeter mec 292 – Fall 2008 4. Which of the following refers to the percentage by which a nation's trade barriers raise an industry's value added per unit of output? A) One-dollar, one-vote B) Optimal tariff C) Effective tariff D) Terms-of-trade effect
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W. J. Streeter mec 292 – Fall 2008 5) The posted article “Shot in the Foot” deals with: A) Analysis of US tariffs on firearms. A) Shoe tariffs that raise more money
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This note was uploaded on 09/21/2009 for the course B 290 taught by Professor Narg during the Spring '09 term at Washington University in St. Louis.

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S-8 Tariffs w.Quiz - Chapter 8 Analysis of a Tariff W. J....

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