Quiz 5 - Quiz 5 1. A tariff is efficient for: a) b) c) d)...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Quiz 5 1. A tariff is efficient for: a) A small country b) An Asian country c) A large country d) A European country e) A OECD country Answer: c 2. Which of the following has been suggested as a benefit of free trade? a) environmental degradation b) loss of job security for 1 st World Workers c) lower costs through economies of scales d) inequitable income redistribution e) infant industry protection Answer c 3. Which of the following is not a reason that a country might impose a tariff? a. to discourage consumption of a particular good b. to encourage imports c. to generate government revenue d. to protect or insulate a domestic industry from competition by foreign producers of the same good Answer: b 4. In a __________ countries breakdown trade barriers among participating nations, use common barriers to trade with nonmember countries and allow free movement of factors of production between member countries. A)
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 3

Quiz 5 - Quiz 5 1. A tariff is efficient for: a) b) c) d)...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online