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Chap013 - Chapter 13 The Instruments of Trade Policy...

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Chapter 13 - The Instruments of Trade Policy Chapter 13 The Instruments of Trade Policy Multiple Choice Questions 1. Which of the following is NOT an example of a nontariff barrier to the free flow of goods and services in accordance with comparative advantage? a. Import quotas b. Government procurement provisions that favor home products C . Specific duty of $1.00 per unit on each imported item d. Voluntary export quotas (VERs) 2. The 2007 U.S. MFN/normal trade relations tariff on refills for ball point pens was 0.4 per refill 2.7 percent of the value of the refill. This is an example of __________. a. A specific tariff b. An ad valorem tariff C . A combination of a specific tariff and an ad valorem tariff d. A nontariff barrier 3. An import quota specifies the __________ amount of a good that can be imported into a country; a step to becoming more protectionist would involve __________ in the quota. A . Maximum; a reduction b. Maximum; an enlargement c. Minimum; a reduction d. Minimum; an enlargement 4. Other things equal, which one of the following will cause an increase in the effective rate of protection (ERP) in the automobile industry? 13-1
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Chapter 13 - The Instruments of Trade Policy
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