chapter6 (6) - An import tariff in a small country will...

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An import tariff in a small country will cause producer surplus to: (A) A. increase. B. remain unchanged. C. decline. 2. The effects of imposing an import quota must include: (B) A. an increase in consumer surplus. B. an increase in producer surplus. C. an increase in government revenue. 3. When a small country imposes an import quota, the domestic price of the good will: (A) A. increase. B. stay unchanged. C. decrease. 4. A small country that imposes a tariff will: (A) A. always have a deadweight loss. B. sometimes incur a deadweight loss. C. never have any deadweight loss. 5. The U.S. policy of imposing quotas on sugar imports has the effect of: (A) A. raising the domestic price of sugar for consumers. B. lowering the domestic price for sugar consumers. C. lowering the domestic price for sugar producers. 6. The Multifibre Arrangement (MFA) under GATT: (A) A. allowed developed countries to restrict imports of textiles from developing countries. B. allowed developing countries to restrict imports of textiles from developed countries.
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chapter6 (6) - An import tariff in a small country will...

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