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: a) Fordney-McCumber Act of 1922 b) Smoot-Hawley Act of 1930 c) Reciprocal Trade Agreements Act of 1934 d) Trade Act of 1974 Answer : c 3. A lower tariff on imported aluminum would most likely benefit: a) Foreign producers at the expense of domestic consumers b) Domestic manufacturers of aluminum c) Domestic consumers of aluminum d) Workers in the domestic aluminum industry Answer: c 4. Which of the following represents the stage where economic integration is most complete ? a) Free trade area
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This note was uploaded on 10/02/2010 for the course INTB 3353 taught by Professor Prodan during the Spring '10 term at University of Houston-Victoria.

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

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