Sample test 2

Sample test 2 - Sample test 2: ECON 460 1. The United...

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Sample test 2: ECON 460 1. The United States has in the past few years given most-favored-nation (MFN) treatment to Russia. This means that the tariff schedules applicable to U.S. imports from Russia a. have lower tariff rates than the rates applicable to other countries to which the United States grants MFN treatment. b. have the same tariff rates as the rates applicable to other countries to which the United States grants MFN treatment. c. have lower tariff rates than the rates applicable to any other country sending goods to the United States. d. have tariff rates of zero percent. 2. A countervailing duty is a tariff that is levied to: a. Counteract the dumping of goods in the domestic market by foreign firms. b. Counteract a sudden surge of imports that threaten to harm a domestic industry. c. Counteract subsidies given to a foreign firm by their own governments. d. Counteract the tariff on domestic goods that are enacted by foreign governments. 3. The imposition of an export tax by a home country will lead to ___________ in home country consumer surplus and will _______________in home country producer surplus. a. A decrease; also lead to a decrease b. A decrease; lead to an increase c. An increase; lead to a decrease d. An increase; also lead to an increase 4. Which of the following statement(s) about dumping is (are) inaccurate? 1) Consumers and import-competing producers are both hurt by dumping. 2) Predatory dumping is frequent.
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Sample test 2 - Sample test 2: ECON 460 1. The United...

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