Assignment 5(1)

Assignment 5(1) - Interna tional Trade Assign ment 5 Due June 16th Name 1 2 3 4 5 6 16 17 18 19 20 21 7 8 9 10 11 12 13 14 15 22 23 24 25 Chapter 8

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Interna tional Trade Assign ment 5 Due June 16 th Name _________________________________ 1 _____ ___ 16________ 2 _____ ___ 17________ 3 _____ ___ 18________ 4 _____ ___ 19________ 5 _____ ___ 20________ 6 _____ ___ 21________
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7 _____ ___ 22________ 8 _____ ___ 23________ 9 _____ ___ 24________ 10 _____ ___ 25________ 11 _____ ___ 12 _____ ___ 13 _____ ___ 14 _____ ___ 15 _____ ___
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Chapter 8 and 9 Quotas: 1 a. are a form of protectionism. b. restrict imports of a product to a certain quantitative level. c. are banned under the WTO. d. all of the above 2. A VER is: a. a tariff that is imposed by the exporting country. b. a tariff that is imposed by an importing country. c. a voluntary quota imposed by the importing country. d. a voluntary quota imposed by the exporting country. 3. Nontariff barriers (NTBs) include all of the following except: a. quotas. b. tariffs. c. subsidies. d. health standards. The following figure illustrates the demand and supply curves for PCs in a small country. 4. Suppose the government used a tariff to achieve the same level of protection as the quota illustrated above. Comparing the two outcomes (quota versus tariff) we can conclude: a. consumers lose area a. b. the government can collect the tariff or sell the quotas to receive area e. c. domestic producers lose under both a tariff and a quota. d. all of the above
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5. When a quota is imposed: a. foreign firms may gain by selling the imported product at a higher price. b. foreign firms may lose by selling fewer imports. c. domestic firms lose by selling fewer products. d. both a and b 6. If imports are constrained by a quota and demand increases then: a. prices will rise. b.
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This note was uploaded on 01/19/2012 for the course ECON 3564 taught by Professor Daley during the Spring '09 term at Temple.

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Assignment 5(1) - Interna tional Trade Assign ment 5 Due June 16th Name 1 2 3 4 5 6 16 17 18 19 20 21 7 8 9 10 11 12 13 14 15 22 23 24 25 Chapter 8

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