Global business6 - The correct answer for each question is...

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The correct answer for each question is indicated by a .
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1 CORRECT A specific tariff is levied as a fixed charge for unit of an imported good. A) True B) False 2 CORRECT Both government and consumers realize significant gains as a result of tariffs, while domestic producers typically see a negative effect. A) True B) False 3 CORRECT Agriculture tends to be one of the largest beneficiaries of subsidies in most countries. A) True B) False 4 CORRECT The extra profit that producers make when supply is artificially limited by an import quota is referred to as quota rent. A) True B) False 5 CORRECT Countries may impose trade barriers in an effort to protect national security. A) True
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B) False 6 INCORRECT Subsidies, quotas, voluntary export restraints, and antidumping duties are all examples of A) foreign policy B) tariffs C) administrative policies D) nontariff barriers 7 CORRECT When tariffs are imposed, prices generally A) fall B) are not affected C) rise D) stabilize 8 INCORRECT Ad valorem tariffs are A) added onto the price of a product B) added to the value of a product C) levied as a fixed charge for each unit of an imported good D) levied as a proportion of the value of the imported good
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This note was uploaded on 06/05/2010 for the course BAUD 5266 taught by Professor Beldona during the Spring '10 term at University of Arkansas for Medical Sciences.

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Global business6 - The correct answer for each question is...

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