Trade-practice questions - Examples of trade related...

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Examples of trade related multiple questions: 1. The different effects of a tariff in a large country and a small country is because a) large country’s have greater political power. b) a tariff by a large country changes the global price. c) tariffs in large countries tend to be ad valorem rather than specific. d) large countries engage in beggar-thy-neighbor policies. e) none of the above Answer: b 2. The principle of normal trade relations (most-favored-nation) treatment was established with the passage of the: 3. A lower tariff on imported aluminum would most likely benefit:
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